Pbc getting sued! Fat dan on twitter

No it wasn't. I don't know about this specific case, but I do know about the legal liability, or lack thereof, of investment advisors. What's your agenda here?

 

Not the last sentence that part is true

 

*Whoooossssshhh*

 

It's all true. People attempt to sue all the time when they don't get the return they were 'promised'.

 

I was going to ask you the same.

 

Don't have one, I was discussing the topic. Try it. You seem to think I'm rushing to the defence of PBC, which if you read the thread is clearly not the case.

Regardless of whether the suit is successful, PBC ain't getting any more funding from W&R, and other investors aren't in the business of backing companies their rivals were in court over. Unless Haymon can get it self sustaining improbably quickly, PBC is ****ed, it seems to me.

Thoughts?

 

My take, Haymon suckered the suit into approving the funds for a clear loser, promising him a major player deal in the process, and we all can feel it, kicks backs to push the rights thru. Now that they've almost lost all of funds, the **** has hit the fan. There's no way some laws weren't broken in the process. Fund manager making illegitimate investments... Why would Caldwell do this if he didn't stand to gain something?

 

I think it's the beginning of the end here. Well, it was written in the sand from the start. Nothing added up, and PBC didn't get an immediate foothold. Plus, Haymon knows nothing about boxing and matchmaking.

 

This is about the most clear and agreeable statement that have ever made. Haymon doesn't know **** about boxing and what people like. He and his ego will collapse PBC. He does not listen to anyone.

 

I have to wonder is Haymon ever even intended PBC to last. I mean, give it a shot, sure, but it was always risk free for him. His most realistic route to personal financial gain is to ***** that investment on massive purses asap. Get his % and gtfo, very rich and having ****ed off a lot of people.

 

The Fund manager has a fiduciary duty to his principals. We know PBC is not a legit place to invest a billion dollars. Am I right?

The real question is what made him break the rules?

 

I think the same. It was just a scam. He was pretty much paying himself. These huge purses went right back into his pocket as he took a percentage of everyone's cut.

 

Sounds about right, I notice Caldwell's role with Haymon Promotions was ambiguously listed as 'advisor'. Thing is though, these companies have pretty bullet proof clauses for when one of their cowboy managers goes rogue, it's not easy to prove it was a knowingly bull**** investment.
It'll hinge on this guy's relationship with Haymon, and whether they've covered their tracks properly.

It seems they knew the score though. Both Haymon and Caldwell are immune from the charges here. Haymon's made off with like 15% of the total funds, and Caldwell's now running another investment advisor, after a no doubt lucrative stint lurking around with Alan :rofl

 

I hope those ppl can get the Feds involved. That is a lot of embezzling.

 

This lawsuit is shareholders are angry because PBC was included in an asset strategy fund alongside companies like Coca-Cola, Microsoft, Kraft Foods, Phillip Morris and Home Depot .. and the investors thought the PBC investment was too risky to be included with "stable" companies like those in that particular fund.

People who invest in funds that include Coca-Cola are looking for something stable in exchange for small growth. They don't want high-risk companies included with the stable companies. Instead, PBC should be included in funds where investors are looking for high risk in exchange for high returns.

It's a complaint regarding which fund PBC was placed in. That's all. All these companies have stable investments and riskier investments, and some of the people who invested in the stable fund were surprised when they learned a riskier investment had been included in the collection of businesses. Since last February, when PBC was launched, the share price of that fund dropped from $8.80 to $7.90. So the shares lost a little more than 10 percent of their value. That scares people who are looking for a little growth and no losses.

Then again, Chipotle is included in that particular fund, too. And they have nosedived in the past 12 months. So they aren't very stable, either.

Anyway, nothing to do with Haymon. That's why he wasn't included in the suit.