[JURIST] A US District Court judge ruled Monday that a Hollinger International [corporate website] lawsuit over a looting of $425 million that allegedly took place under the watch of former CEO Conrad Black [CBC profile] and his former deputy could proceed. Hollinger, which owns the Chicago Sun-Times among its many media holdings [Columbia Journalism Review report], maintains that Black diverted funds for his own gain, but Black continues to dispute the charges, and has countersued for libel [JURIST report]. Hollinger has issued a statement on Judge Blanche M. Manning's ruling. The 2004 report [text] in which Hollinger forwarded its allegations to the SEC and Judge Manning is also available. AFP has more.