The publisher and chief executive officer of Newsweek, Dev Pragad, is at the center of a blistering lawsuit that paints a picture of betrayal, manipulation, and self-enrichment at the expense of the magazine's founding investors.
Filed in the Supreme Court of New York's Westchester County on August 5, 2025, the amended complaint is brought by six of the original co-owners who helped acquire and rebuild Newsweek in 2013 — Winnie Wong, Nancy Lee, Sylvia Lee, Younseok "Titus" Choi, James Yang, and Moonsoo "Martin" Jung. Together, they accuse Pragad of fraud, theft, and a calculated effort to seize the historic brand for himself, while siphoning millions of dollars out of the company and living a luxury lifestyle.
