Bruce Levenson Pushes For Lawsuit Against AIG, Team’s Former Insurance Company

Bruce Levenson is currently involved in a lawsuit that he’s filed against AIG Insurance. Bruce Levenson owned the NBA’s Atlanta Hawks for 12 years and also owned shares in the NHL’s Atlanta Thrashers and also had administrative hold over Phillips Arena. Bruce Levenson and the owners of AHBE elected to sell the Hawks in 2015 for an $850 million deal, and they also decided to let General Manager Danny Ferry walk after agreeing to a buyout deal with him. Ferry and AHBE had filed a claim with AIG to cover losses in this situation, but AIG refuses to honor the claim and Levenson wants damage relief for bad faith and court costs, though the matter seems far from resolved at the moment.

Bruce Levenson is the co-owner and founder of United Communications Group (UCG), a technology and industry inside information publications company. He founded this company back in 1977 after completing his bachelor’s degree in journalism at Washington University and working as a reporter for the Washington Star newspaper. When UCG began that Time, it was just one newsletter called Oil Express that Levenson and Ed Peskowitz published out of their apartment, but soon they picked up business and added more newsletters until the company grew exponentially. UCG is headquartered in Washington D.C. but has offices all across the globe. It also became the parent company to GasBuddy, an app that locates cheap gas prices while traveling.

Bruce Levenson helped start numerous foundations in Washington D.C., many of which target young minority students and help raise funds for education including the “I Have a Dream” Foundation. He’s on the Board of Trustees at the Holocaust Memorial Museum and once took the Atlanta Hawks team and coaches there to hear his mother-in-laws story of survival. Levenson also founded the University of Maryland’s Center for Philanthropy and Non-Profit Leadership.

Reference: https://en.wikipedia.org/wiki/Bruce_Levenson

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