Artist Peter Max’s son has lost his bid to oust his sister as a director at their dad’s company, a judge has ruled.
The son of the psychedelic painter, Adam Max, sued sister Libra Max last year seeking to force her to hold a special shareholder’s meeting so he could vote in a new board at their father’s company ALP.
He accused his sister of booting him from ALP and installing herself as CEO of the business, which was started by their 84-year-old pop artist dad, who in recent years has been diagnosed with dementia.
Manhattan Judge Nancy Bannon – who has overseen multiple cases between the warring siblings – tossed that suit Tuesday, finding it “involves the same parties and identical issues” as another case that Adam has against his sister.
In the separate case, filed in 2019, the judge Tuesday granted a request from Libra to continue barring Adam from calling the shareholder meeting where he plans to oust his sister, along with the third board member, and instate his own board.
Max’s children have been in a years-long legal battle over his company. Getty Images
A judge ruled in favor of Libra Max that her brother could not oust her as CEO. Stephen YangAdam helmed the company from 2012 until 2018 – when Libra and the guardian of their dad’s property, Lawrence Flynn, booted him as president and CEO claiming he was stealing millions from Peter.
Adam has denied the accusations, claiming the company thrived under his watch.
Meanwhile, since Libra took over as CEO, Adam has claimed she is running the business into the ground.
Flynn, who first claimed Adam was pillaging the company, later allegedly switched sides and agreed to oust Libra as part of a deal with her brother, according to the judge’s decision
Adam Max was ousted as CEO for reportedly stealing money from the company. Steven HirschThe judge said she was continuing to hold off the vote that Adam has been seeking to call for over two years in light of the “troubling” agreement he allegedly reached with Flynn to vote Libra and the third member out.
“The voting agreement was troubling not merely because it sought to restore Adam to ALP’s leadership, but also because it would require the transfer of ALP’s most valuable assets and permit ALP to return to the way it conducted business under Adam, who ALP and Libra claim looted the company,” Bannon’s decision reads.
Adam cannot call a new vote until a further ruling from the judge.
Peter Max was diagnosed with dementia a few years back. Getty ImagesIn September 2021, Libra filed a petition seeking to remove Flynn as Peter’s property guardian.
“We are the most blessed children on the planet,” Libra told The Post. “I hope my brother will make peace with me.”
His lawyer, John G. Moon, told The Post, “We are in the process of reviewing Justice Bannon’s decision.”
Libra’s lawyer, Jeffrey Eilender, lauded the decision.
“We are gratified by Justice Bannon’s well-reasoned decision that recognized and stopped the overreach by Peter Max’s financial guardian, Lawrence Flynn, and is a significant step towards Peter’s assets remaining with his family as he always intended,” Eilender said.
In separate litigation, Libra has claimed that Barbara Lissner – who is Peter’s court-appointed guardian for his legal, personal and financial affairs – is isolating him and ruining his life.
Lissner has denied the allegations and filed her own legal claims against Libra.
Flynn’s lawyer didn’t immediately return a request for comment.
