Daymond John Granted Restraining Order Against Bubba’s Q Founders
In 2014, the founders of Bubba’s Q Boneless Baby Back Ribs appeared on the popular TV show “Shark Tank” and caught the attention of celebrity investor Daymond John. They accepted an investment offer from John, agreeing to a deal worth $300,000 for a 30 percent stake in their Cleveland-based company. However, after the show, the terms of the deal were revised, and the investment amount was lowered to $100,000 for a 35 percent stake, according to a report from the Los Angeles Times.
The Unraveling Deal and Court Ruling
Unfortunately, the partnership between Daymond John and the founders, Al “Bubba” Baker, his wife Sabrina, and daughter Brittani, did not proceed smoothly. The Bakers accused John of attempting to take control of their business and alleged that they were excluded from crucial meetings and withheld financial information. In response to their grievances, the Bakers made disparaging comments about Daymond John on social media, contrary to a previous settlement agreement from 2019 that prohibited such behavior.
The Court’s Decision and Restraining Order
As a result of the Bakers’ breach of the settlement agreement’s non-disparagement clause, a judge issued an injunction against them on July 21. The court ruled to prevent the Bakers from making any further public comments, whether on social media or through news outlets, about their relationship with Daymond John. The injunction also required them to remove any disparaging social media posts about their dealings with the celebrity investor.
Daymond John’s Response
Daymond John’s spokesperson, in an emailed statement, expressed vindication over the court’s decision, stating that the facts and the federal judge’s opinion confirmed that he had not engaged in any wrongdoing. John appreciated the support he received during the dispute and pledged to continue defending his reputation with the same passion he brings to empowering fellow entrepreneurs.
Daymond John’s Other Shark Tank Investments
Aside from his involvement with Bubba’s Q Boneless Baby Back Ribs, Daymond John has made other successful investments as a “Shark Tank” investor. Some notable ventures include the sock and apparel brand Bombas and the scholarship app Scholly.
Get The Latest Updates From The World Of Music, Movies, TV, Culture, And Fashion In Musical States Magazine. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates