A printing company has filed a lawsuit against Tiger Woods' manager Theodore Forstmann, claiming he used inside information to place wagers against his own clients — including Woods, entertainment website TMZ reported Wednesday.
Forstmann is the owner of IMG, one of the biggest sports management companies in the world.
The suit also claims he obtained information from tennis superstar Roger Federer — another of IMG's clients — to place a bet in a match in which the Swiss competed. According to TMZ, the match in question was the 2006 French Open final against Rafael Nadal, which Nadal won.
Agate Printing, Inc. alleges it made millions in bets on Forstmann's behalf, according to the suit filed in L.A. County Superior Court.
The suit also claims one of the bets against Woods came when he was competing against Fiji's Vijay Singh, who was a client of IMG at the time.
Fortsmann's representative Michael Sitrick strongly denied the allegations.
"The allegations in [Agate Printing Inc. owner] Mr. James Agate's complaint are beyond false, they are preposterous," Sitrick told TMZ, adding that Agate had admitted to concocting lies about Forstmann in an April 2009 letter.
According to the report, Agate filed the suit because Forstmann allegedly breached an agreement to give his company printing business.
"Mr. Agate claims that Mr. Forstmann was racially insensitive to African-Americans. He has adopted two children who are African," Sitrick said.
"Mr. Agate filed a similar lawsuit against Mr. Ted Forstmann in 2008 in Los Angeles Superior Court. That case was dismissed," he added.
"Unfortunately, people like Mr. Agate look at people like Mr. Forstmann as the lottery. Because of his wealth and success, people like him are, unfortunately, a target for someone like Mr. Agate."
