Hugh Hefner is facing legal action from a Playboy shareholder over allegations the aging magazine mogul is refusing to give up his lifestyle and sell the flagging company.

The class action lawsuit maintains Hefner has deliberately sabotaged two potential deals in the past six months to sell off the adult magazine, which the shareholder claims is falling apart. The plaintiff alleges the 83 year old enjoys the company of models too much to give up the brand he founded, despite its quickly plummeting worth.

In the lawsuit, an investment company that analyzed Playboy's business claims, "If you were Hugh Hefner... would you give up the parade of busty blondes, the fancy mansion and the reality TV show for a pay-out? Hefner has continued to live the good life and make sure everyone knows it. Hefner remains in the limelight, showing up at media events and at the Playboy mansion... with his girlfriends by his side."

The plaintiff, who is seeking unspecified damages, also claims the price of a Playboy magazine - $5.99 in the U.S. - is more expensive than its stock.

Image ©PR Photos