Louis Bacon Sues Bahamas Neighbor Nygard for Defamation

Moore Capital Management founder Louis Bacon sued his Bahamas neighbor Peter Nygard for $50 million, claiming the Canadian clothing magnate orchestrated an “obsessive and malicious campaign” to paint him as a murderer, Ku Klux Klan member, drug trafficker and inside trader.

The suit, filed Jan. 14 and unsealed Thursday in Manhattan state court, is the latest escalation of a decade-long property battle between the two men that has landed in courts in the Bahamas, the U.K., Los Angeles and New York. It follows Bacon’s successful bid to win access to more than 100 hours of footage shot by a videographer hired by Nygard.