New Defendants in Kirk Wright Lawsuit
The Law Firm of "Motley Rice LLC, one of the nation's largest all plaintiffs litigation firms, today announced that it has filed suit against the National Football League (NFL) and the NFL Players Association for its endorsement and recommendation of the financial advisory services of Kirk Wright and his firm, International Management Associates (IMA). The suit, filed in United States District Court, Northern District of Georgia, is on behalf of several current and former NFL football players, including NFL Pro-Bowl players Steve Atwater and Blaine Bishop, who utilized the NFL's security department services and the NFL Players Association's Registered Financial Advisor Program". Here is a current list of news stories about Kirk Wright, the Cleveland story is very interesting.
This lawsuit is an interesting development, and when both the complaint and answer are finalized I look forward to review them. Now what is the relevance of this lawsuit for purchasers of franchises or business opportunities?
Technorati Tags: nfl players association, motley rice, national football league, steve atwater, litigation firms, cleveland story, blaine bishop, kirk wright
There are three lessons. First, an implied recommendation from an endorsement, say from a charity, newspaper, or consumer organization, is worthless. It is designed to keep you off guard. Second, with respect to reputation you get what you pay for - if you consult only institutions which give out "free" advice about reputations then the value of that information is exactly that - nothing for nothing. Finally, look for gatekeepers to sue if you do end up losing money after a bad investment.
Technorati Tags: nfl players association, motley rice, national football league, steve atwater, litigation firms, cleveland story, blaine bishop, kirk wrightl
Comments
A reader asks:
I am in Atlanta and have been following the Kirk Wright / IMA story. I believe the bankruptcy auction is coming up and, given the press, it should be interesting. I am not an attorney and do not know how to research when and where it will be held, or even if has to be open to the public. Please advise.
Posted by: Michael Webster | June 26, 2006 11:30 PM
The auction house is called AMC and its address is 1827 Powers Ferry Road, Building Five, Atlanta.
Posted by: Michael Webster | June 26, 2006 11:34 PM
Can you be more specific about who gatekeepers are?
Posted by: Anonymous | June 27, 2006 2:53 AM