October 9, 2025
Richelieu Dennis is alleging mismanagement by the Group Black board, including a fellow co-founder, and is calling for the removal of all members.
Richelieu Dennis, co-founder of the Group Black ad firm, has drawn attention to the company after calling for the full board’s removal amid allegations of overspending and mismanagement.
The bombshell allegations came to light on Oct. 6, when Dennis sent a letter to the board demanding the removal of all five members, including Group Black co-founder Bonin Bough, accusing them of financial and structural mismanagement, Business Insider reports. In the letter, Dennis expressed “serious concerns” about the alleged “wrongdoing and breach of fiduciary duty” by the board members.
Citing his 10% stake in the company, Dennis requested a special shareholders’ meeting to vote on removing the board. The move comes more than a year after the entrepreneur and founder of SheaMoisture and Sundial stepped down from the Group Black board in August 2024.
Launched in 2021 in the wake of the George Floyd protests, Group Black was created to channel advertising dollars to Black-owned outlets. In his letter, Dennis accused the firm of making “exorbitant expenditures not reasonably connected to the company’s operations” while neglecting payments to unnamed vendors and business partners. He also claimed that board members hired lawyers in a “wasteful attempt to devise frivolous defenses” over payment disputes and failed to appoint directors capable of properly overseeing the company.
Tensions within Group Black appeared to be mounting following lawsuits from Essence Communications and Afropunk Worldwide in October 2024, alleging that the firm owed them roughly $20 million and misused the funds to benefit the firm and Holler, a messaging startup founded by former CEO Travis Montaque. In recent months, two companies under Dennis’s Sundial Media and Technology Group have also been embroiled in legal disputes with Group Black.
Group Black has responded to Dennis’s allegations, labeling them as “false and defamatory.”
“The allegations in Mr. Dennis’ letter, which the media apparently received the same day he sent it to Group Black, are categorically false and defamatory,” Group Black said in a statement. “The company conducts itself with integrity and will continue to do so. Our focus remains on advancing Group Black’s mission and business on behalf of our team members and shareholders.”
Over the past year, the company has grappled with internal turmoil, including executive departures, most notably Montaque quietly stepping down as CEO in the summer of 2024, as well as several other executives and board members leaving. In September, the group rebranded to Portrait Media Group to reach a broader audience amid corporate pullbacks from DEI commitments.
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