*Celebrity investor Daymond John is seeking a temporary restraining order against three former “Shark Tank” contestants who accuse him of cutting them out of profits related to their business.
The owners of Bubba Q’s Boneless Baby Back Ribs appeared in a 2013 episode of “Shark Tank” and accepted John’s offer of $300,000 for 30 percent of the company. But after agreeing to the on-air collaboration, owners Al “Bubba” Baker, his wife Sabrina, and daughter Brittani claim John revised the terms of the deal to $100,000 for a 35 percent stake, according to the Los Angeles Times.
In response to the Times article, John sent the Bakers a cease-and-desist letter asking that they stop “making publicly disparaging or defamatory remarks” about him and his co-investors.
John also posted a video response calling the Times piece a “false narrative.”
@bubbasqfoodtrucks After the company made $5000 in profits from a $5.8Million dollar deal my dad sent Daymond John an email. Watch till the end to see what Daymond John had to say about my dads email ???? #DaymondJohn #SharkTank #SharkTankNightmare #RastelliFoods #SharkTank #BubbasBonelessRibs #AlBubbaBaker #Storytime #Fyp #Foryoupage ♬ Spooky, quiet, scary atmosphere piano songs – Skittlegirl Sound
“The journalist, I believe the underlying issue here is, did not understand business as well as I would have liked her to,” John added.
As PEOPLE reports, the family claims they have received around 4 percent of the publicly disclosed $16 million in revenue from the business. As evidence, the Bakers have posted a series of videos and documents to social media to back up their allegations.
“After repeated attempts to give the Baker’s the ability to correct their violations. It is unfortunate that it has come to this,” John’s spokesperson Zach Rosenfield said in a statement to PEOPLE.
“This temporary restraining order is due to the Baker’s blatant actions to undermine a business partnership and the legal parameters they agreed to 4 years ago. Their belief that they can unwind poor business decisions through slanderous social media posts and articles will no longer be tolerated.”
READ MORE: Daymond John’s ‘Black Entrepreneur’ Show Drops Tonight – Small Black Businesses Win $175,000
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