Former New York Yankees star Derek Jeter will soon find himself in court over a fraud lawsuit by Swedish underwear maker Frigo RevolutionWear.
RevolutionWear brought the famous shortstop aboard as a director and investor with a 15 percent stake in the company in 2011. The company claims Mr. Jeter waited two years to disclose his inability to publicly back its product due to contractual obligations with Nike Inc.
Rulings by Vice Chancellor Sam Glasscock of Delaware’s Court of Chancery on Tuesday were cheered by the Frigo’s legal team.
“Jeter, while serving as a director … caused the company to suffer substantial financial harm through his alleged fraudulent statements and misconduct,” attorney Joe Tacopina told the New York Post Wednesday. “We won the rulings on four out of our five claims, which would be an .800 batting average for a baseball player.”
Judge Glasscock dismissed one claim that Mr. Jeter tried to depress the value of the company, Forbes reported Wednesday. RevolutionWear claims Mr. Jeter’s nondisclosure translated into losses of $30 million.
Representatives for Mr. Jeter did not respond to the newspaper’s request for comment. The famous athlete is still on a honeymoon with his new wife, model Hannah Davis.
Mr. Jeter resigned from RevolutionWear’s board last year.
• Douglas Ernst can be reached at dernst@washingtontimes.com.
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