Al Gore Sues Al-Jazeera

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Al Gore
Former U.S. vice president Al Gore wants to end quarterly company reporting and explore issuing loyalty-driven securities as part of an overhaul of capitalism REUTERS

Former U.S. Vice President Al Gore and his business partner Joel Hyatt have filed a lawsuit on Friday against the Qatar-based news organization Al-Jazeera over an alleged fraud and breach of contract from the news agency’s purchase of the company Current Media, a CNBC report said.

Gore and Hyatt who are co-founders of Current Media say that Al-Jazeera broke the law by refusing to pay Current Media stockholders millions of dollars after Al-Jazeera purchases the company last year.

"Al Jazeera America wants to give itself a discount on the purchase price that was agreed to nearly two years ago,” and attorney for the pair told Politico, adding: "We are asking the Court to order Al Jazeera America to stop wrongfully withholding the escrow funds that belong to Current's former shareholders."

Al-Jazeera said that an outside counsel was reviewing the complaint.

"We think it relates to a commercial dispute between former shareholders of Current Media and Al Jazeera America," Al Jazeera said in a statement adding: "We may have further comment once they've fully reviewed everything."

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