Authorization

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

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



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 that 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 fund their "lavish lifestyle."
During a hearing in California state court on Wednesday, Providence Industries demanded the immediate seizure of nearly $34 million in assets from LuLaRoe, claiming that Mark Stidham is a flight risk because of his alleged threats to "jump ship" with the company’s riches.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Декабрь 2018    »
ПнВтСрЧтПтСбВс
 12
3456789
10111213141516
17181920212223
24252627282930
31