(TheRedAlertNews.com) A report reveals that Daymond John, one of the “sharks” in the business reality TV program “Shark Tank,” has moved to secure a restraining order against three former contestants on the show.
Among the five “Shark Tank” venture capitalist investors, John’s restraining order request targets Al “Bubba” Baker, his wife Sabrina, and their daughter Brittani.
The Bakers own Bubba Q’s Boneless Baby Back Ribs, a business John agreed to invest in after they pitched it to him on “Shark Tank” in 2013.
However, Al “Bubba” Baker and his family now claim that Daymond John has been trying to seize control of their company and that he has been cutting them out of profits, People magazine reports.
54-year-old John is seeking a temporary restraining order against the Bakers because of what he alleged are their attempts “to undermine a business partnership.”
“After repeated attempts to give the Baker’s the ability to correct their violations. It is unfortunate that it has come to this,” John’s spokesman Zach Rosenfield told the magazine in a statement.
“This temporary restraining order is due to the Baker’s blatant actions to undermine a business partnership and the legal parameters they agreed to 4 years ago. Their belief that they can unwind poor business decisions through slanderous social media posts and articles will no longer be tolerated,” he elaborated.
During their appearance on “Shark Tank,” the Bakers received a $300,000 investment offer from John in exchange for 30% of their firm.
They have alleged that the venture capitalist changed it off-air to $100,000 for 35%.
In a recent Los Angeles Times report, the Bakers accused John of trying to grab hold of their business and complained of a deal with John and the Rastelli Foods Group.
Al Baker’s family claims he had been isolated from business meetings, and they have obtained only 4% of some $16 million of publicly declared company revenues.
The Bakers have sought to prove their claims with emails and other documents they have shown in a series of social media videos.
Rastelli also seeks a restraining order against the family, while a New Jersey federal judge dismissed their case without prejudice.
— New York Post (@nypost) June 3, 2023