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Even Rambo Seeks To Recover His Investment Losses
Sylvester Stallone and other high profiles actors and actresses are suing their investment adviser and business manager, Kenneth Starr, for millions in investment losses.
Stallone claims that Starr failed to advise him to diversify out of his 3.9 million shares of Planet Hollywood International. Moreover, the suit alleges that Starr had actual or constructive knowledge of the poor financial condition of the company because he also represented Keith Barish, a member of the company's board of directors and a large shareholder.
Stallone also is suing to recover losses caused by two hedge funds and a company that invested in small public companies.
Source: Investment News, February 25, 2002
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