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...

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