As reported by ESPN, "Golden Boy Promotions sued bitter rival promotional powerhouse Top Rank, its chairman, Bob Arum, and chief financial officer David Lopez in federal court Tuesday, accusing them of racketeering and millions of dollars in fraud."
The Complaint (available here via Courthousenews.com) is a very interesting read.
I hope to write more about this later, but ultimately after a quick review, I think that this is really a breach of contract and accounting case -- which are two counts -- and I think the RICO claim, breach of fiduciary duty claim, the aiding and abetting a breach of fiduciary duty claim, and the fraud claim should and likely will fail and be dismissed.
The 2007 settlement agreement referenced in the complaint and the ESPN article, unfortunately, was filed under seal so I can't opine on the arbitration provision Arum references in the ESPN article.
Fight Lawyer
