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Endeavor must face a claim from a consultant who says its debut on the public market was salvaged thanks to his blueprint of the company’s business model. David Carde may have created an implied contract with Endeavor when his attorney emailed CEO Ari Emanuel his analysis that illustrated how its hodgepodge of unrelated acquisitions is actually good for business, according to a decision that came down Monday.
The suit revolves around Endeavor’s 10.3 billion IPO last year. Leading up to the public offering, there was prevalent analyst criticism of the company’s acquisition blitz, which included mixed martial arts organization UFC, art fair company Frieze and Professional Bull Riders. The “spending spree,” as Carde called it in his complaint, led to Endeavor losing 554 million in 2019 and racking up 4.5 billion in long-term debt.
Endeavor planned to hold its IPO in 2019 but pulled it amid skepticism from the market.
Endeavor must face a claim from a consultant who says its debut on the public market was salvaged thanks to his blueprint of the company’s business model. David Carde may have created an implied contract with Endeavor when his attorney emailed CEO Ari Emanuel his analysis that illustrated how its hodgepodge of unrelated acquisitions is actually good for business, according to a decision that came down Monday.
The suit revolves around Endeavor’s 10.3 billion IPO last year. Leading up to the public offering, there was prevalent analyst criticism of the company’s acquisition blitz, which included mixed martial arts organization UFC, art fair company Frieze and Professional Bull Riders. The “spending spree,” as Carde called it in his complaint, led to Endeavor losing 554 million in 2019 and racking up 4.5 billion in long-term debt.
Endeavor planned to hold its IPO in 2019 but pulled it amid skepticism from the market.
- 8/4/2022
- by Winston Cho
- The Hollywood Reporter - Movie News
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