Daymond John, FUBU founder and renowned entrepreneur from Shark Tank, has played the temporary restraining order card against former contestants.
The contestants claim he didn’t compensate them fairly based on their business agreement.
According to Vibe, John has taken legal action against Al “Bubba” Baker, his wife Sabrina Baker, and their daughter Brittani Bo Baker.
The family has accused Daymond of excluding them from profits and important business meetings to take over their Bubba’s Q Boneless Baby Back Ribs food truck.
Daymond John Denies The Allegations
Daymond John’s spokesperson, Zach Rosenfield, denied the Bakers’ allegations.
He even called John’s request for a restraining order “unfortunate.”
Rosenfield also claimed that the Bakers have been trying to sabotage their business arrangement with Daymond.
“This temporary restraining order is due to the Bakers’ blatant actions to undermine a business partnership and the legal parameters they agreed to four years ago.”
But Rosenfield didn’t stop there.
He also accused the Bakers of making poor decisions regarding their company and then resorting to social media and the press to badmouth Daymond.
He declared that such behavior would no longer be tolerated.
But let’s not forget the other side of the story.
The Bakers claim that after their appearance on Shark Tank in 2013, they were offered $300,000 for a 30% stake in their business.
However, Daymond John later revised the terms, reducing the offer to $100,000 for a 35% stake.
Furthermore, the Bakers believe they have only received compensation for a measly 4% of the $16 million in revenue generated by their business.
To add insult to injury, Al Baker has been left out of important meetings and decisions regarding the company.
But the plot thickens!
Rastelli Foods Group, who should have partnered with Bubba’s Q Boneless Baby Back Ribs, has also filed a temporary restraining order against the Bakers.
It seems like everyone wants to keep their distance from this heated dispute.
