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MusclePharm Faces Increasing Number of Lawsuits

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    MusclePharm Faces Increasing Number of Lawsuits

    MusclePharm Faces Increasing Number of Lawsuits
    by Anthony Roberts

    Over the past few months, supplement company MusclePharm has increasingly found itself as the target of lawsuits. From their inception they've had severe financial issues, ranging from non-payment of debts of under a hundred dollars to nonpayment of debts up to hundreds of thousands of dollars -the latter nonpayment resulting in them being sued for stock by a company who bought the debt from World Extreme Cagefighting. Their press releases, which often present a cheery outlook of the company as it lost millions of dollars per quarter, belied the fact that they frequently changed auditors and filed SEC statements doubting their ability to continue staying afloat. Despite this, in 2010 the executives awarded themselves millions of dollars in stock options (no press release on that one), only to return their 2011-12 bonuses (heralded by a cheery press release full of platitudes on "commitment" and "revised methodology").

    Had they continued to run the company in the fashion to which they'd become accustomed (bonuses for six-figure-salary executives during multimillion dollar loss periods, overstated sales projections, spending $4 to make $1, etc...), they would have been out of business by now. An influx of new talent in the form of Jeremy DeLuca (of bodybuilding.com) and his check book, are the only reason they're still afloat - despite a stock that trades for less than the Mexican peso.

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    Hmm very interesting, sad in many ways too. I like their Combat and assault. I just can't believe til this day the greed of so many people.

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    Wow, didn't see that one coming. Good read.

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    Quote Originally Posted by packers6211 View Post
    Hmm very interesting, sad in many ways too. I like their Combat and assault. I just can't believe til this day the greed of so many people.
    Everyone is in it for the money. I liked Assault too.
    Orbit Nutrition Rep
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    Quote Originally Posted by Cork View Post
    Everyone is in it for the money. I liked Assault too.
    Sad but very very true.

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    Yikes.

    But it's a good time to buy their stock!



    Funny about their spelling error. Wtf?


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    the company sat down?
    should i make stock of their products?

    i loved their creatine

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    interesting read. money is the name of the game.

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    Quote Originally Posted by Curt James View Post
    Yikes.

    But it's a good time to buy their stock!



    Funny about their spelling error. Wtf?

    It's not that rare. I know the guy who made the mistake. I am a designer myself and it does happen occasionally. The company should probably have picked it up though before releasing it.

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    They did the exact same thing when they went by Hard Nutrition. No surprise that the business model continues to fail.

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