The Arena Group has countersued its former CEO, who alleges in his own complaint that his former employer owes him millions of dollars.
Plaintiff Ross Levinsohn contends in his underlying lawsuit filed March 21 that he was fired in December for attempting to stop a major investor, Manoj Bhargava, from allegedly acting illegally in a company takeover. Levinsohn was hired in September 2019 when Arena was known at the time as theMaven Inc.
Arena Group lost its license to publish Sports Illustrated shortly before Levinsohn filed his suit. Levinsohn maintains he was terminated because of Bhargava, who invested $100 million in the Arena Group in 2023 before allegedly masterminding the removal of several Arena executives weeks later.
On Thursday, the Arena Group countersued Levinsohn, contending that he has a history of sexual harassment allegations as well as questionable business practices, including allegations that he rated the relative “hotness” of female subordinates during office conversations. The countersuit alleges fraud and that the plaintiff put his interests ahead of those of the company.
“Levinsohn’s complaint … paints a fairytale picture with respect to Arena’s finances under Levinsohn’s leadership, alleging that he oversaw a dramatic growth and turnaround of the company,” according to the countersuit, which further states that the reality was “radically different” from his assertions.
Last July, Levinsohn wrote a frantic email to Arena’s CFO acknowledging that the company was facing a “full-blown financial crisis,” according to the countersuit.
Levinsohn and his inner circle had a reputation among Arena’s middle and upper management of taking care of himself and his friends at the expense of others, the countersuit further alleges.
Arena is seeking unspecified damages as well as attorneys’ fees.