Involved with a high profile lawsuit
Time: 1953
Place: U.S.
Details: In 1953, Hughes was involved with a high profile lawsuit as part of the settlement of the United States v. Paramount Pictures, Inc. Antitrust Case. As a result of the hearings, the shaky status of RKO became increasingly apparent. A steady stream of lawsuits from RKO's minority shareholders had grown to be extremely annoying to Hughes. They had accused him of financial misconduct and corporate mismanagement. Since Hughes wanted to focus primarily on his aircraft manufacturing and TWA holdings during the Korean War years, Hughes offered to buy out all other stockholders in order to dispense with their distractions.
‹ Earlier in historyThe Korean War Ended1953 Later in history ›The First U.S. hydrogen bombWednesday Jan 7, 1953
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