Former Noble CEO Alireza sues founder Elman for $80 million

(June 14): The former chief executive officer of Noble Group has filed a lawsuit against founder Richard Elman claiming that he’s owed stock in the embattled commodity trader.

Yusuf Alireza, who left the company in May 2016, filed his suit against Elman in the High Court of Hong Kong alleging breaches of contract, according to a writ of summons. Alireza is seeking at least HK$450 million ($80 million) in shares.

Elman, who stepped down as chairman of the company in May, declined to comment. Alireza couldn’t immediately be reached for comment.

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