Circuit Judge Edward Garrison ruled in West Palm Beach this month that King had breached his fiduciary duty when he bailed out on his partners in a condo development project.
The Palm Beach Post Tuesday said it was King who fired the first shot by suing EB Acquisitions for $1 million on the grounds the company had not refunded his deposit.
EB countersued, claiming they had been "strung along" by King, who dropped them to take a better deal that had come along.
The Post said EB issued a release headlined, "Developer KOs Fight Promoter" while King's attorney vowed an appeal.
Notable deaths of 2014 [PHOTOS]