Wednesday, October 14, 2009
King Siblings Settle Estate Lawsuit
Post by David Held
By SARAH WHEATON
The children of Martin Luther King Jr. settled a longstanding and bitter dispute over the slain civil rights leaders’ estate late Monday night.
A lawsuit pitted two of Mr. King’s children, Bernice King and Martin Luther King III, against a third child, Dexter King, the president of King, Inc., which runs their father’s estate. They had accused Dexter King of cutting them out of the decisions about the corporation, withholding documents and refusing to hold shareholder meetings since 2004. A jury trial was set to begin soon, threatening to reveal details about the inner workings of King Inc.
“All of the siblings are very pleased that the matter was amicably resolved, and they are committed to looking toward the future, to beginning the process of working on their family’s relationship,” said Lin Wood, the lawyer for King Inc. He said the siblings agreed not to discuss the details of the settlement.
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