What is the Price of Due Diligence? For Steve Atwater it was the .5 percent solution.
Steve Atwater was one of the former NFL players who were defrauded by Kirk Wright and his hedge fund IMA. Interestingly, Atwater was also an intern at IMA. Steve Atwater and five other NFL players are now suing the NFL and the NFL Player's Association claiming that the NFL did not perform the due diligence on Kirk Wright that they contracted for. As a result, the plaintiffs claim they lost $20,000,000.00 collectively in this business opportunity.
How much did they spend collectively on their due diligence - $1500.00 per player or $9,000.00 collectively.
Was this too little money? Should they have spent more? Should they have looked at other due diligence programs? What do you think?
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