The producers of CNBC’s “The Profit” have beaten a $30 million arbitration lawsuit filed by the trustee of a bankrupt contestant that appeared on the show in 2015.
Last year, Lynn E. Feldman, Esquire, the Chapter 7 trustee for the estate of Pennsylvania design company Precise Graphix, LLC, sued NBCUniversal, Camping World Inc., a vehicle retailer partially owned by Marcus Lemonis, and the production company Machete for $30 million in damages, alleging that the show committed fraud and breach of contract that led to the company’s bankruptcy in 2021.
In May, an arbitrator dismissed those claims, finding that they were “unsupported by competent, credible evidence.”
“Given the complete failure of competent, credible evidence supporting her allegations at the hearing, the Trustee cannot establish the required elements of the fourteen causes of action alleged in the Demand,” arbitrator Ann Jones wrote in the ruling revealed in bankruptcy court documents on Wednesday. “Even if one...
Last year, Lynn E. Feldman, Esquire, the Chapter 7 trustee for the estate of Pennsylvania design company Precise Graphix, LLC, sued NBCUniversal, Camping World Inc., a vehicle retailer partially owned by Marcus Lemonis, and the production company Machete for $30 million in damages, alleging that the show committed fraud and breach of contract that led to the company’s bankruptcy in 2021.
In May, an arbitrator dismissed those claims, finding that they were “unsupported by competent, credible evidence.”
“Given the complete failure of competent, credible evidence supporting her allegations at the hearing, the Trustee cannot establish the required elements of the fourteen causes of action alleged in the Demand,” arbitrator Ann Jones wrote in the ruling revealed in bankruptcy court documents on Wednesday. “Even if one...
- 7/6/2023
- by Lucas Manfredi
- The Wrap
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