Former MGM/UA Communications Chief Executive Lee Rich...

Former MGM/UA Communications Chief Executive Lee Rich filed suit alleging that the company and its controlling shareholder, Kirk Kerkorian, have blocked his attempts to sell the 1 million shares of MGM/UA stock that he bought from Kerkorian in April, 1986, for $11.9 million. Rich resigned from MGM/UA last July. His suit in U.S. District Court said the defendants wrongfully contended that he could not transfer the stock because of restrictions under federal securities law. The suit seeks to void his stock purchase or, alternatively, a court ruling that his stock may be sold.