Shark Tank investor Daymond John is seeking a restraining order against some former contestants on the popular reality show. According to the shark, the contestants have undermined their business partnership. However, the contestants say that John has pushed them out of their own business.
Here is what you need to know about the business relationship and court battles involved in this Shark Tank business venture.
Daymond John files restraining orders against former Shark Tank contestants
Three former Shark Tank contestants have made disparaging comments about Daymond John concerning their deal from the show. As a result, John has sought a temporary restraining order against them. According to People, John said that the three individuals have sought to “undermine a business partnership and the legal parameters” of the agreement they made after appearing on the show.
Bubba Q’s Boneless Baby Back Ribs owners Al “Bubba” Baker, his wife Sabrina, and daughter Brittani told the Los Angeles Times that John attempted to cut them out of their profits and take control of their business. They also said that their deal wasn’t what they agreed to on the show.
They appeared on Shark Tank in 2013 with their business, which involved pre-cooked boneless baby back ribs. The deal worked out on the show was 30% of the company for $300,000. However, the Bakers said when the show went off the air, John lowered the deal to $100,000 for 35% of the company.
When they went public with online videos discussing their displeasure with Daymond John, the Los Angeles Times ran an investigation of the incident. Also involved in the dispute was the manufacturer Rastelli Foods Group. The Bakers said the business has made $16 million in revenue, and they only received about 4% of that money. They also claim Al Baker remains left out of business meetings. They released emails and other documents to prove their case.
Daymond John reacts to the controversy
The restraining order was dismissed without prejudice by a New Jersey federal judge, citing jurisdictional issues. Daymond John filed an amended complaint. Rastelli has also sought a restraining order against the Bakers. In response to the Los Angeles Times investigation, John said the journalist had a “flawed interview” and delivered a “false narrative.” Much like the Bakers before him, John decided to do this online on social media to make the entire ordeal public.
I’m not one to give oxygen to false information and bogus claims – especially ones that are rehashing things that were addressed through the legal process nearly 4 years ago. But I know when I need to stand up for myself. Here are my thoughts on the recent @latimes story that has tried to take down Shark Tank and go after me. I have nothing at all to hide whatsoever because I know the truth is on my side. #sharktankupdate #SharkTank #FinancialIntelligence
♬ original sound – Daymond John
John sent the Bakers a cease-and-desist letter where he demanded they stop making “defamatory remarks against Plaintiffs.” He also demanded that they stop revealing “confidential information” about their business dealings. For their part, the Bakers are fighting John, saying he has caused them “irreparable harm” since the time on their patent is running out. They said they have the right to chronicle their journey online because “the truth is in the best interest of the public.”
What are your thoughts about the Shark Tank controversy? Are you surprised to see Daymond John involved in this controversy? Let us know your thoughts in the comments below.