Beverly Hills News – Jeannie Buss Seeks Legal Remedy to Retain Control of Lakers Over Brothers
Posted: Friday, March 3, 2017 – 3:21 PM
(CNS) – Jeanie Buss is asking a judge to order her two brothers to ensure she is elected to the Lakers’ board of directors so she can continue as the controlling owner of the team as outlined in the family trust set up by their late father.
In papers filed Thursday in Los Angeles Superior Court, Jeanie Buss maintains that her brother Johnny “with the active participation of (brother) Jim breached the express terms of the trust that require them to take all actions reasonably available to them to ensure that (Jeanie) remains the controlling owner of the Lakers.”
According to her court papers, Johnny Buss, also a part owner of the Lakers, recently sent notice to his sister that a proposed slate of four people for the Lakers board included himself and his brother, but not Jeanie.
“By proposing four directors that excludes (Jeanie), Johnny has breached his mandatory obligations … to take all steps reasonably necessary to ensure the appointment of (Jeanie) as controlling owner,” her petition states.
If Jeanie Buss is not elected to the board, she cannot be elected controlling owner, her court papers state.
Jeanie Buss has given her brothers “multiple attempts to correct their breach, and they have made it clear they stand by their breach and intent to act further to implement it at the shareholders’ meeting on March 7,” her court papers state.
A hearing on her petition is scheduled for May 11.
The family trust was set up by Jerry H. Buss, the team’s longtime owner. He died in February 2013 at age 80.