Market / Industry

'This is nonsense': LuLaRoe CEO fires back at $49 million supplier lawsuit, saying he has no plans to 'jump ship'

Posted On: Dec 7, 2018   |   Posted By: Business Insider

'This is nonsense': LuLaRoe CEO fires back at $49 million supplier lawsuit, saying he has no plans to 'jump ship'

LuLaRoe CEO Mark Stidham fired back at a supplier's $49 million lawsuit against the multi-level marketing company, saying some of the suit's supporting testimonies are “patently false” and “nonsense."
The supplier, Providence Industries, claimed in the suit that Stidham is a flight risk because of his alleged threats to "jump ship" with the company's riches.
Stidham said he has no plans to abscond with the company's money.
"To be clear, I do not have, and have never had, any intention or plans of absconding abroad with money,” he said.
Another hearing on the matter is scheduled for Friday morning.
LuLaRoe CEO Mark Stidham has fired back at a supplier's $49 million lawsuit against the multi-level marketing company, saying some of the suit's supporting testimonies are "patently false" and "nonsense."
The supplier, Providence Industries, said in the suit LuLaRoe has failed to pay its bills for seven months, and accused the company's founders, Mark and DeAnne Stidham, of hiding assets in "shell" companies to...

Continue reading ...

 






The last Posts from Business Insider



Here's what Manny Machado can buy with his $300 million

Here's what Manny Machado can buy with his $300 million

Manny Machado is about to be a very rich man - one of the richest players in sports history after agreeing to a 10-year, $300 million deal with the San Diego Padres. The... Read more ...

Judge orders Roger Stone to court due to Instagram photo with apparent gun...

Judge orders Roger Stone to court due to Instagram photo with apparent gun crosshairs

A federal judge has ordered Trump confidant Roger Stone to appear in court to address an Instagram post featuring a photo of the judge with what appears to be the crosshairs of... Read more ...

Razor blades found under cart handles at Walmart; one person injured, police say

Razor blades found under cart handles at Walmart; one person injured, police say

Police in North Carolina are looking for the people responsible for placing razor blades under the handles of shopping carts at a Walmart, injuring at least one person. Read more ...

Don Newcombe, star pitcher linked to Dodgers' Brooklyn past, dies at 92

Don Newcombe, star pitcher linked to Dodgers' Brooklyn past, dies at 92

Newcomb was the first MLB player to win the Rookie of the Year, MVP and Cy Young awards. Read more ...

Burberry apologizes after sending noose sweatshirt down runway

Burberry apologizes after sending noose sweatshirt down runway

A model called out the brand's extremely "offensive" piece after walking show. Read more ...

Vandals spray-paint ' MeToo' on statue of WWII sailor kissing nurse

Vandals spray-paint ' MeToo' on statue of WWII sailor kissing nurse

Police want to know who spray-painted ” MeToo” on the leg of a statue depicting a sailor and a dental assistant kissing at the end of World War II. Read more ...

Netflix cancels 'Jessica Jones' and 'The Punisher'

Netflix cancels 'Jessica Jones' and 'The Punisher'

Netflix finally killed off the last of its Marvel shows. Read more ...

Despite Apology, Stone Faces Jail After Instagram Post

Despite Apology, Stone Faces Jail After Instagram Post

Roger Stone has apologized for the Instagram post that appeared to show crosshairs near the head of the federal judge who is presiding over his prosecution, but now he has to... Read more ...

Bernie Sanders announces he's running for president again in 2020

Bernie Sanders announces he's running for president again in 2020

Sen. Bernie Sanders on Tuesday announced he's running for president in 2020. Sanders' 2016 presidential campaign made him a household name, despite the fact he ultimately lost... Read more ...

Iconic fashion designer Karl Lagerfeld has died at age 85, French media report

Iconic fashion designer Karl Lagerfeld has died at age 85, French media report

The iconic fashion designer Karl Lagerfeld is dead, French news site Pure People reported on Tuesday. The German-born couturier and photographer reportedly died in hospital in... Read more ...