Brett Favre sued over failed sports social media company

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Brett Favre’s post-football career has consisted of plenty of questionable business decisions, including more than a few eyebrow-raising (and nosehair-trimming) TV commercials. One of those business decisions has gotten him sued.

According to TheBlast.com (via Deadspin), Favre and the executives at Sqor Sports face a $16 million lawsuit regarding a failed sports social media company.

Callais Capital Management invested $16 million into Sqor; CCM claims that the company “negligently and/or fraudulently misrepresented” its projected income for 2018 as $44 million. Sqor, per the lawsuit, “materially misrepresented” that it had over 325 million users and that its social reach exceeded 350 million. Sqor also allegedly claimed that athletes like Rob Gronkowski and Odell Beckham Jr. were using the network; per the lawsuit, they weren’t using the network at all.

In 2015, Favre appeared on CNBC touting Sqor.

I think it’s sort of a snowball effect,” Favre said. “It has taken off way faster . . . than we had I guess dreamed it would have. . . . And athletes — not just your notable faces — but athletes from all over the world in sports I didn’t know existed have signed up on Sqor.”

Jeff Pearlman’s 2016 biography of Favre explains that Sqor became involved with Favre on a broad basis, steering him in the direction of a topical pain cream known as Rx Pro, whose parent company was investigated by the Justice Department. Last year, Favre appeared on FOX Business Network pushing a nasal spray that treats concussions.

16 responses to “Brett Favre sued over failed sports social media company

  1. I don’t agree with, but understand how and why someone with few options and a desperate need would resort to fraud to make a buck. I have no flipping idea why the turnover machine would do it. Unless of course he owes a lot of money in settlements to women.
    Just sayin

  2. There’s no proof of fraud here. I’ve run billion $ business in my life and 1) someone is always trying to sue you but 2) if CCM didn’t do proper due diligence before the investment, sorry I have no sympathy. One of the easiest due diligences is say, verifying the number of customers/users. You can’t figure that out, don’t invest.

  3. Brett must have picked up a few tips on fraud from the Vikings owners during his brief stay in Minneapolis. His $16M fraud is peanuts compared to the Wilf’s $90 fraud conviction but you have to take into account the Wilfs had decades of experience at this.

  4. @genxj

    Or he could sell the snake oil to the entire Minnesota organization as a cure for not winning Super Bowls. Maybe he shouldn’t set his sights so high just tell them it will get them into a super bowl

  5. reddzen says:
    January 29, 2018 at 7:58 pm

    There’s no proof of fraud here. I’ve run billion $ business in my life…
    ________________________________________

    And you know this how? Have you perused the filing? Are you familiar with Sqor Sports prospectus and proffered data? One would think someone that had ‘run billion $ business’ in their life would understand that willful and fraudulent material misrepresentation can defeat far more than reasonable due diligence. Ever heard of Enron or was it too small to enter the scope of a billion $ businessman?

  6. Sorry, but the claim of 325 million users doesn’t pass the smell test. You invest millions without even questioning numbers like that.

    I wonder when he’s going to get sued over the copper knee braces and wrist supports.

  7. The size of the Bitter Pill being consumed by Viking trolls Is forcing them to eat it as you would an elephant……….one bite at a time.

    Enjoy.

  8. Reddzen, you’d make a fine Russian Judge. “proof of fraud” is actually what the trial would be about. Presumably. That said, Brett Favre needs a new publicist and/or financial manager. Presumably.

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