MEMPHIS, TN (WMC) - Memphis Grizzlies majority owner Robert Pera was subpoenaed by the Securities and Exchange Commission (SEC).
WMC Action News 5 found in the subpoena that the SEC requested documents and information relating to a range of topics, including accounting practices, financial information, international trade practices, and relationships with distributors.
Pera's company, Ubiquiti Networks, is working to respond to that request.
The subpoena comes as Grizzlies minority investors, led by Steve Kaplan, are making a bid to buy the team.
When Pera purchased the Grizzlies in 2012, he bought more than 25 percent of the team. The Grizzlies have more than 20 members in their ownership group, including Justin Timberlake, Penny Hardaway, Elliot Perry, and Ashley Manning, wife of Peyton Manning.
WMC5 reached out to the Grizzlies for comment. A team spokesman said he didn't know anything about the subpoena.