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Fertittas sanctioned in Xyience case

Oh, how the wheels of justice roll slowly. If it feels like we’ve been covering the Xyience takeover story for years, it’s because we have. This story goes all the way back to 2007 when a blogger named Rich Bergeron got sued for claiming Xyience was under investigation for fraud and all sorts of other crap.

Unfortunately for Xyience, they picked the wrong guy to try and bully. Rich spent the next few years investigating the shit out of Xyience and laid out evidence that the Fertittas set Xyience up to fail so they could take the company over. And finally, years later, we’re starting to hear the same story being told in court. Forbes has an article on the current situation:

A federal bankruptcy judge has ordered sanctions against Fertitta Enterprises for failing to turn over e-mails from its chief financial officer suggesting the firm might have had a hand in the bankruptcy of sport-drink maker Xyience. The Fertittas, Las Vegas gambling tycoons who also own the Ultimate Fighting Championship franchise, are accused by the trustee of bankrupt Xyience of lending the firm $12 million at a time of crisis and then using the loan to strip the company’s assets from its shareholders.

E-mails were later found on computers at a Las Vegas beer company where Bullard also works. They detailed how Fertitta proceeded with the loan even though there was a potential $150 million buyout offer from Canada’s Cott Corp.  Judge King said Fertitta’s “wilful, bad-faith discovery behavior justifies the imposition of monetary sanctions” to be determined at a December hearing.

Now this is just sanctions for attempting to hide the sketchy stuff they did. It will be interesting to see what former Xyience stockholders – who were left high and dry – will be able to get out of this case now that we’ve learned about this buyout from Cott. I have no idea how crap works in court but that seems like it could be the smoking gun that proves the people running Xyience willfully ran the company into the ground so the Fertittas could take it over.

  • Reverend Clint

    sounds like what brought down the economy… betting against shit in hopes it tanks

  • frickshun

    It’s like Ryan is speaking a completely different language.

  • thingvolds

    well, well, well. someone put subo on suicide watch.

  • Trol

    The Fertittas setting up a company to fail so they can buy it? You don’t say…

  • iamphoenix

    is xyience something teenagers do?

  • Letibleu

  • Reverend Clint

    i drink xyience at work… fucks you up. has no sugar

  • Letibleu

    Its packed with splenda (sucralose)…

  • Letibleu

    Ingredients:
    Carbonated water, citric acid, taurine, sodium citrate, fruit and vegetable juice for color, glucoronolactone, caffeine, d-calcium pantothenate, guarana extract, panax ginseng extract, sucralose, anal leakage juice, sodium benzoate, potassium sorbate, inositol, l-carnitine, niacinamide, acesulfame potassium, pyridoxine hydrochloride, cyanocobalamin.

  • Trol

    I drank one once and it gave me the shits.

  • DJ ThunderElbows

    Greasy Xzyienss bitches!  Man, you guys remember the radio show?

  • frickshun

    Any product that has “anal leakage juice” in the 1st 11 ingredients is nasty. But Xyzience seems to be okay….

  • Letibleu

    12th, your safe with Xyience.

     

    Who can spell that without looking at how it’s spelt? I notice everyone spells it differently.

  • Predator8u

    i love how we support criminals

     

     

    besides that xscience is one of my fav enery drinks. 0 cal. 

  • iamphoenix

    you are right below redping for most boringest comments predator…bleeehgghghghaaa SAY SOMETHING FUNNY!!!!!

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