In a dramatic turn of events, a Nevada-based media company and its CEO have filed a lawsuit against their former CEO, accusing him of defamation, slander, tortious interference with business relationships, injunctive relief, and breach of fiduciary duty. The complaint was filed by Icaro Media Group, Inc. and Paul Feller in the Circuit Court of the 15th Judicial Circuit in Palm Beach County, Florida on September 12, 2024, targeting Robert Petty.
According to the complaint, Petty has allegedly embarked on a relentless campaign to destabilize Icaro Media Group following his removal as CEO and Treasurer in February 2018. The plaintiffs claim that Petty's actions are driven by vindictiveness and an unjustifiable sense of entitlement. They allege that he has been spreading false and misleading information about Feller’s management and the integrity of Icaro’s officers and directors through various communications including emails and phone calls to shareholders.
"Petty has orchestrated an insidious campaign of deception and self-enrichment," reads the complaint. It further accuses Petty of causing exorbitant costs for the company through baseless litigation across multiple jurisdictions. The plaintiffs assert that Petty's malicious actions have drained Icaro’s resources, jeopardized its reputation, and destabilized its governance.
The complaint details numerous instances where Petty allegedly sent false communications to Icaro’s shareholders. For example, on January 20, 2023, Petty reportedly sent an email filled with misleading statements about Feller and Icaro’s finances in an attempt to derail the company's plans to go public. Another instance occurred on April 23, 2024, when Petty allegedly sent an email titled “Paul Feller fake resolution 8.pdf,” containing false accusations against Icaro’s officers and directors.
The plaintiffs also highlight ongoing legal battles involving Petty. Notably, they mention a lawsuit filed by Petty in February 2022 in Clark County District Court in Nevada against Icaro Media Group and Feller. In response to this lawsuit, Icaro and Feller have counterclaimed that Petty breached his fiduciary duties by engaging in fraudulent activities and embezzling approximately $2 million from the company.
Icaro Media Group is seeking several forms of relief from the court. They demand damages for defamation and slander caused by Petty's false statements. Additionally, they seek injunctive relief to prevent further dissemination of misleading information by Petty. Lastly, they request compensation for tortious interference with advantageous business relationships due to Petty's alleged smear campaign aimed at destabilizing investor confidence.
Representing the plaintiffs are attorneys Harold E. Patricoff Jr., Jessica Marroquin from Duane Morris LLP based in Miami. The Case ID is: 502024CA008712XXXAMB Div: AH.