[protected-iframe id=”763366c17f69c6f18464eacc4b907c78-22577676-53282995″ info=”https://www.instagram.com/p/BdVoXmTFpSi/embed” width=”500″ height=”530″ frameborder=”0″ scrolling=”no”]
According to The Blast, Packers legend Brett Favre and shady Sqor Sports execs are being sued for $16.75 million (and damages) by Callais Capital Management for allegedly presenting false information about their company to get the firm to invest.
Sqor Sports, now closed, was described as a “social media and editorial sports technology platform revolving exclusively around sports, athletes, and fans.” You might vaguely remember some of your favorite athletes tweeting updates they posted on Sqor a couple years ago — obviously that brilliant idea didn’t take off with this recent development.
Details from The Blast:
CCM claims the $16 million was to be used to help Sqor “fund immediate international growth and allow the company to secure up to 10 major Sports Enterprises over the next six months.” CCM says they were made to believe the investment brought with it the promise of extremely high profits.
Despite representations that Sqor was expecting to raise up to $25 million through a round of equity capital, CCM says this was a lie. They claim the company provided a growth chart that “negligently and/or fraudulently misrepresented” their projected income for 2018 as $44 million.
Further, CCM claims that Sqor “materially misrepresented” they had over 325 million fans (users) and their social reach was over 350 million. They even claimed the Sqor “went so far as to misrepresent” their social media platform’s user growth metrics exceeded that of Twitter and LinkedIn.
CCM calls out Favre for allowing the other execs to conflate Favre’s social media followers and fans with those of Sqor and misstating the influence of Sqor based on Favre’s own social media reach.
Favre joined Sqor’s board of directs in the summer of 2013 as a product ambassador and advisor for the athlete acquisition team — what he said about the company then (via MarketWired):
“When I first met Brian Wilhite and the team behind Sqor, I was impressed by what they were setting out to do. The success to date has been awesome, and I think the sky is the limit with Sqor. I am excited to be joining the Board of Directors and looking forward to contributing in any way that I can to help the company succeed,” said Favre.