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THE WORST BUSINESS CEOS IN AMERICA
Mired in financial and legal trouble, Talos Partners CEO, Robert V. Brazell tops our list
NEWS TO HELP INVESTORS AVOID TAKING A BEATING
ROB BRAZELL AND IBN FILE ARBITRATION CLAIM AGAINST KROGER FOR SIGNIFICANT MONETARY DAMAGES
Robert Brazell and the IBN Board of Managers and Advisors announced to investors through an email that they have filed an arbitration claim against grocery giant Kroger. They stated it relates to their ten-year exclusive in-store media contract and breaches and damages that include Kroger as well as individuals and suppliers.
The email continues that the goal of the claim is to "maximize returns to our/your investments."
Below is an excerpt from the email.
"Dear fellow IBN owner,
We write to provide you what we believe to be several important updates. We have considered the possibility of telephonic communication or some written communication during the past few months but our legal counsel has strongly advised us to wait until now. You have, no doubt, heard rumors, seen email, or even viewed online information.
1. IBN has filed an arbitration claim against the Kroger Company for significant monetary damages related to our ten-year exclusive in-store media contract. The breach and damages include Kroger as well as personal relationships within the company, many employees, executives, and suppliers. We expect our claims may increase as we continue with discovery.
During the past three months we have engaged a team of competent business and legal advisors who have led a process to help us understand our options. Our advisors evaluated thousands of emails, presentations, documents, and interviews with many related parties in order recommend courses of action. They have engaged experts in media, law, finance, retail, and general business. We then engaged several reputable law firms and proceeded with a legal due diligence process allowing these firms to consider the facts related to the IBN business, former employees, current and former contracts; and advise us on the legal rights of the company and our investors. Our goal is to maximize returns to our/your investments... "
Keith Dailey, Director, Media and Corporate Communications from Kroger has not responded as of the posting of this article.
AUGUST 24, 2015 UPDATE
IBN Investors Anxious for Kroger Litigation Update
On May 1, 2014 at 11:27pm Robert Brazell and the Board of Managers from IBN Media Holdings wrote the following to IBN Investors:
"We are actively engaged in our legal claims against the Kroger Company. We have extraordinary, renown, legal counsel and an accomplished litigation team based in Dallas Texas. We will keep you informed as permitted us by our lawyers. Our case has been vetted by multiple renown law firms and we are confident in our legal claims."
Now, over a year later IBN Investors have not received an update on the status of the Kroger litigation.
Forbes says a CEO should above all protect investor share value
Robert V. Brazell tops our list of small business CEOs that fails time and again to provide returns, while living high off investor's money. Now mired in legal and financial trouble, the truth about Rob Brazell is finally reaching the market where potential investors can make better and more informed decisions before putting their money at risk.
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