(RightWing.org) – ABC’s reality program “Shark Tank” has been responsible for the success of several small businesses, backed by the investment of the program’s panel of venture capitalists — known as “sharks.” Tracking companies like MoneyMade report that Daymond John has invested roughly $8.5 million on 61 deals during his 14 seasons on the show. His success rate varies, but relations with one former contestant recently reached the point where he felt he needed to file for a restraining order.
On May 31, the Los Angeles Times published an in-depth article detailing John’s legal claim against former “Shark Tank” contestants Al “Bubba” Baker, his daughter Brittani, and his wife, Sabrina. John offered to purchase a 30% stake in Bubba’s Q Boneless Baby Back Ribs company for $300K on-air during their 2014 appearance on the show.
However, the Bakers reportedly started making public accusations against John on their social media pages, claiming he later lowered his offer to $100K for 35% of the business. They also said John ignored their complaints regarding a former show contestant he enlisted to create their company’s website and control their company’s bank account.
The Bakers also claimed John excluded Bubba from important business meetings and hid real-time financial figures from him. The family also said they only received roughly 4% of the company’s eight-figure revenue stream.
John recently filed an amended petition for a temporary restraining order and preliminary injunction against the Bakers after the court dismissed his initial claim. Additionally, he alleged the family violated a confidentiality agreement and the terms of mediation settlements reached in 2019 when they went public with their complaints. The court filing characterized the Baker family’s online activities as a “willful and malicious smear campaign.”
The petition also claimed that John was a non-managing partner in Baker’s boneless rib company whose only role involved acting as the business’ brand ambassador. The document also stated that John sustained an “overall financial loss” from his business dealing with the family, although they readily acknowledge they have taken more than $650K in profits from the company.
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