Perot sues Cuban

445 Views | 1 Replies | Last: 15 yr ago by Phat32
The Collective
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AG
I didn't see anything about this posted.

http://www.nytimes.com/2010/05/12/sports/basketball/12mavericks.html?src=mv

quote:
Mark Cuban’s financial management of the Dallas Mavericks was described as “reckless” in a lawsuit filed Monday in Texas by a minority investor in the team who accused the flamboyant owner of amassing net losses of $273 million and debt of more than $200 million.


quote:
Cuban said: “The Mavs operations and debt are guaranteed by me. There is no risk of insolvency. Everyone always has been and will be paid on time.” He added that “being in business with Ross Perot is one of the worst experiences of my business life. He could care less about Mavs fans. He could care less about winning.”


LawHall88
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AG
Sounds like Perot just wants out, and Cuban hasn't made him a good offer yet.

The most serious allegation is the lawsuit is that Cuban was, in effect, self dealing - entering into contracts of questionable purpose or value with other Cuban entities (HDNet, etc.).
Phat32
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AG
While I don't think Cuban's the second coming...Ross Perot Jr. is a complete and utter ******bag.
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