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Playboy Mansion Undervalued by Hefner, Shareholder Says in Suit

The 29-room Playboy Mansion, Playboy Enterprises Inc. founder Hugh Hefner’s corporate throne, is worth $54 million, or 45 times what the publisher claimed on its books, according to a shareholder lawsuit.

Hefner, 84, and Playboy Enterprises are hiding the true value of the company’s assets in an effort to take it private without paying a fair price for the minority stake that Hefner doesn’t own, according to an amended complaint filed Feb. 4 in Delaware Chancery Court in Wilmington.