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 …

March 14, 2016 Litigation

Former Yankee Settles Dispute with Underwear Company

On Monday, March 7, 2016, Derek Jeter and a marketer of luxury underwear resolved their dispute over legal fees in Delaware’s Court of Chancery. The settlement resolves Jeter’s fight with RevolutionWear Inc. over attorney’s fees stemming from Jeter’s lawsuit seeking declaration that he complied with his obligations to RevolutionWear and that he is entitled to indemnification.

In 2011, Jeter joined the company’s board of directors. RevolutionWear contends that an essential element of Jeter’s contract was that he would publicly announce his role in the company. …

November 24, 2015 Litigation

Former Yankees Star Derek Jeter Suing Underwear Company

On Friday, November 20, 2015, former New York Yankees star Derek Jeter’ lawsuit against luxury underwear maker RevolutionWear became public. Jeter, a former director and investor in the company, is suing RevolutionWear in Delaware’s Court of Chancery for legal fees related to his service as a director.

Just last year, RevolutionWear released the names of its “celebrity” affiliates, which included Derek Jeter, New York Knicks star Carmelo Anthony, and rapper 50 Cent. Jeter joined the company’s board of directors in 2011, on top of investing …