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Eugene

(61,592 posts)
Tue Jul 19, 2016, 07:38 PM Jul 2016

Ex-Yankee Jeter faces fraud trial in dispute with underwear maker

Source: Reuters

World | Tue Jul 19, 2016 5:59pm EDT

Ex-Yankee Jeter faces fraud trial in dispute with underwear maker

WILMINGTON, DEL. | BY TOM HALS

Former New York Yankees baseball star Derek Jeter must face a trial over claims he defrauded the Swedish company that makes $100 Frigo brand underwear out of millions of dollars, a judge ruled on Tuesday.

The former All-Star shortstop has been locked in a legal dispute with RevolutionWear, a maker of luxury underwear that brought Jeter on as a director and investor with a 15 percent stake in 2011. The company alleges that he reneged on a promise to promote the brand and publicize his role as co-founder.

The judge, Vice Chancellor Sam Glasscock, found that Jeter must defend allegations that he fraudulently induced RevolutionWear into an agreement by concealing terms of an endorsement deal with Nike Inc.

Tuesday's ruling clears the way for a trial over allegations that Jeter fraudulently induced RevolutionWear to bring him on its board, and that Jeter breached his fiduciary duty as a director to act in the interests of the company's investors.

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Read more: http://www.reuters.com/article/us-frigo-jeter-lawsuit-idUSKCN0ZZ2TI
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Ex-Yankee Jeter faces fraud trial in dispute with underwear maker (Original Post) Eugene Jul 2016 OP
Sounds like Jeter could be toast ... Auggie Jul 2016 #1

Auggie

(31,060 posts)
1. Sounds like Jeter could be toast ...
Tue Jul 19, 2016, 07:58 PM
Jul 2016

if you have an endorsement deal with Nike chances are there's a strong paper trail and all the "i"s are dotted and the "t"s crossed.

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