Hugh Hefner, Editor in chief of Playboy Enterprises is seeking to regain ownership of the empire he founded and take the company private once again. A class-action suit seeking an order to rescind the proposed acquisition alleges that Hugh’s bid of $5.50 a share is too low and that the company would be breaching its shareholder fiduciary duties if the adult giant is sold for an equivalent $185 million. Hugh Hefner currently owns about 70 percent of Playboy’s Class A shares and 28 percent of its Class B stock.