Jeanie Buss has filed a petition in Los Angeles Superior Court challenging the legality of her five siblings’ vote to sell the Buss Family Trust’s remaining stake in the Lakers.
Buss argues that retaining a sufficient interest to maintain control would serve the trust’s best interests, particularly as the franchise’s value continues to rise. She is also seeking to remove Janie and Joey Buss as co-trustees for an alleged breach of fiduciary duty.
Her siblings contend they secured the majority required to join Mark Walter’s sale to Josh Kushner and Bob Iger at a $12.5 billion valuation. The filing argues, however, that Walter has not formally provided notice of the transaction, meaning the family’s tag-along rights are not yet applicable.
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