“Shark Tank” celebrity investor Daymond John is seeking a temporary restraining order and preliminary injunction against former contestants he partnered with on the show.
John alleged Al “Bubba” Baker and his daughter, Brittani and wife, Sabrina made inaccurate claims after they accused him and his partners of misleading them, depriving them of profits, and trying to take over their business, according to the Los Angeles Times. The business deal in question was entered into with John and Rastelli Foods Group, a meat manufacturer retained to produce Bubba’s Q Boneless Baby Back Ribs after they appeared on Season 5 of “Shark Tank.”
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A New Jersey federal judge dismissed the case without prejudice, prompting John to file an amended complaint, which is pending. Rastelli Foods also seeks a restraining order against the Bakers, alleging they made “false” and “defamatory statements” against the company.
“After repeated attempts to give the Bakers the ability to correct their violations, it is unfortunate that it has come to this,” Zach Rosenfield, spokesperson for Daymond John, said in a statement, according to the Los Angeles Times.
“This temporary restraining order is due to the Bakers’ blatant actions to undermine a business partnership and the legal parameters they agreed to 4 years ago,” they said.
“Their belief that they can unwind poor business decisions through slanderous social media posts and articles will no longer be tolerated.”
The Bakers claimed John’s on-air offer was $300,000 for 30% of the company, but say he later revised the terms to $100,000 for a 35% stake.
They also took issue with unaddressed complaints, alleged they were excluded from key business meetings and financial information was withheld. The Bakers claim to have only received 4% of the promised $16 million in revenue from the business, according to The Los Angeles Times.
The “Shark Tank” star pushed back against the allegations. He called the Bakers’ actions a “willful and malicious smear campaign” and said they violated a confidentiality provision laid out in the parties’ operating agreement and the terms of arbitration and mediation settlements, according to the Los Angeles Times. (RELATED: Ex-Girlfriend Of Jonathan Majors Granted Full Restraining Order Against Him: REPORT)
John claims he “is operating at an overall financial loss from his business dealings with Defendants, while Defendants acknowledge they have reaped at least $659,000 in profits alone.”
Both parties took to social media to state their own position and drag the other party.