Ross Levinsohn
Ross Levinsohn, Yahoo Executive Vice President of Americas, speaks at the Web. 2.0 Summit in San Francisco, Monday, Oct. 17, 2011.
  • Ross Levinsohn ran the Arena Group, which published Sports Illustrated, and was fired by its new owner.
  • He says he objected to new owner Manoj Bhargava's "disastrous plan" to put out a false press release.
  • Levinsohn said he improved the company's finances and hasn't been told why he was fired.

The former CEO of the Arena Group, the struggling media company that recently lost the license to publish Sports Illustrated, said in a new lawsuit that his former employer owes him more than $20 million.