Derek Jeter Unable to Dismiss Claims of Fraud

Derek Jeter’s bid for dismissal of fraud and fiduciary claims brought against him by high-end underwear maker RevolutionWear Inc. (RWI) last November was largely unsuccessful. On July 19, Vice Chancellor Sam Glasscock III of the Delaware Chancery Court retained four of the five counts against Jeter: acting in bad faith, fraudulently concealing his interests, fraudulently inducing company actions, and knowingly making false claims to investors. The lawsuit spawned from Jeter’s promotion to RWI’s board of directors in 2011, giving him a 15 percent stake…
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