All rights reserved. NutraBio Classic Whey Pumpkin Pie: So Good It’s Scary! [13], MusclePharm Corp. announced plans to buy back $5 million of all common stock in December 2013.

ThermoLife was represented in this matter by attorney Greg Collins. [27], In 2018, MusclePharm announced that it was relocating its headquarters from Denver, CO to Burbank, CA as part of a restructuring deal. Earlier in May, MusclePharm terminated its deal with Arnold Schwarzenegger, which it said saved them an additional $22.5 million. MusclePharm owed vendors approximately $1.1 million in outstanding invoices and was short on funds to pay them. Inter-Mountain Capital sued MusclePharm for alleged failure to sell, seeking damages of $4 million. Receive updates, access to exclusive deals, and more. Sign up to stay in the loop. Reddit gives you the best of the internet in one place. ", "MusclePharm(R) to Sponsor MMA Champion Anderson Silva at UFC 126 Main Event", "MusclePharm to Sponsor MMA Star Lyoto Machida at UFC 123 Main Event", "MusclePharm to Sponsor MMA Star Jake Shields at UFC 121 Co-Main Event", "VFD Sports Announces MusclePharm Sponsorship Deal for Pat Barry", United World Wrestling sign two-year sponsorship deal with sports nutrition company MusclePharm, Man City Football Group partner Sports Nutrition Company, Man City and City Football Group beef up sponsor deals with MusclePharm, https://en.wikipedia.org/w/index.php?title=MusclePharm&oldid=970937796, Sports nutrition and bodybuilding supplement companies, Nutritional supplement companies of the United States, Articles with a promotional tone from July 2018, Wikipedia articles with possible conflicts of interest from July 2018, Creative Commons Attribution-ShareAlike License, This page was last edited on 3 August 2020, at 07:44. Mr. Collins heads the intellectual property litigation practice at Kercsmar & Feltus, PLLC, a Scottsdale, Arizona litigation boutique. ”During the course of the parties’ business relationship, MusclePharm has essentially turned Capstone into its bank. This is the second straight bag deal to have gone south for Woods. On February 18, 2010, the company acquired Muscle Pharm, LLC, and as a result, MusclePharm became a wholly owned subsidiary. A few other big takeaways from the extremely positive earnings report show that MusclePharm anticipates recording a gain of approximately $8.9 million during 4Q 2016.

According to Top Class Actions, MusclePharm was sued for misleading customers about the protein content of the Arnold Schwazenegger Series Iron supplements. When reached for comment, ThermoLife's founder, Ron Kramer, offered the following statement: "I offered MusclePharm a fair business solution before filing suit, asking for just $719,000 to settle their debt.
After expert testimony revealed, as the Maricopa County Superior Court found, no reasonable juror could find in favor of MusclePharm on its counterclaim, the Court granted ThermoLife Summary Judgement and dismissed MusclePharm's unsupported counterclaim against ThermoLife, and ThermoLife's claims against MusclePharm proceeded to trial. Registered in England and Wales. As you would expect, MusclePharm refused the request, which led to Medley Capital instructing Capstone to cease delivery of goods to MusclePharm. Lines and paragraphs break automatically. Founded in 1998, ThermoLife is a world leader in patented ingredients and technology for use in dietary supplements, specializing in sports nutrition. Under terms of the settlement, MusclePharm agreed to pay $11 million to INI Buyer Inc. ( a company related to Capstone) within five days of the settlement. We’re beginning to believe that they’ve found their adult — and then some — with interim CEO Ryan Drexler, and it may be time to make him permanent. Natural Products Insider is part of the Informa Markets Division of Informa PLC. After over a year and a half of turmoil, MusclePharm may finally have the ship headed in the right direction after reaching settlement in the Capstone Nutrition lawsuit and posting a very positive earnings report. Beyond Raw LIT Jolly Rancher Packs Intense Flavors and Performance!

[12], In October 2012, MusclePharm discontinued use of BEAST Sports' trademarks including "Beast" and "Beast Mode" after MusclePharm’s unauthorized use. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. The Ninth Circuit recently revived a MusclePharm class action lawsuit, finding that FDA regulations do not preempt plaintiff claims that the company misrepresented the protein source in … Denver-based MusclePharm Corp. has filed counterclaims against a key supplier seeking $65 million in a breach of contract lawsuit filed last month.. MusclePharm, a … Number 8860726. Promote the MusclePharm brand and receive commision + benefits! Also, pulled from the countersuit, Estalella said: ”The extended lack of product and slippage of product availability have forced us to address this formally. To settle the deal, the company disclosed it paid an additional $2.5 million.

[6], In September 2011, it was reported that MusclePharm's executive vice president, Leonard Armenta, had resigned after accusations from the MMA fighter Quinton "Rampage" Jackson that there was a spy in his camp in the lead up to UFC 135.

[20] In August 2015 it was reported that MusclePharm had earned $50.5 Million by the end of second quarter 2015, which is an 8% increase compared to 2014. In addition to undisclosed cash payments and other considerations, the settlement also nullifies MusclePharm’s counter-complaint, filed in June 2016. To say it’s been a tumultuous 18 months for MusclePharm would be an understatement.

MusclePharm® is a scientifically driven, performance lifestyle Company that currently develops, manufactures, and distributes branded nutritional supplements.
Capstone further alleged that MusclePharm refused acceptance of certain shipments, which ultimately forced Capstone to liquidate the manufactured goods at a discounted price on its own accord. [4], In 2011, Environmental Research Center (ERC) filed a notice of intent to start litigation against over 200 nutrition and supplement companies, including MusclePharm, alleging violations of California Proposition 65. MusclePharm ordered product and expected Capstone to manufacture and deliver it, while at the same time ignoring its 60-day payment terms for previously ordered product and falling further and further into debt. In our blog post about the MSLP SEC investigation into their former leaders, we stated that “MusclePharm clearly needs an adult in the room”. Keep your eyes on Drexler’s next moves – they will be critical. Net sales in the fourth-quarter alone were in excess of $32 million. (Buy Now | Read More), RYSE Supps Project Blackout Pre: Fuel Your Greatness(Buy Now | Read More), Kaged Muscle Amino Synergy: Energy EAAs! “We have turned a corner on our plan to return the company to profitability and value creation, and anticipate continued improvement in our operating margins and expense structure going forward. As of July 2014, MusclePharm has nearly 12 million shares outstanding. The company also had to deal with high salary and benefit costs, including severance payments to Pyatt. MP contends this lead to lost customers and damaged goodwill with the public that cost The Athlete’s Company millions of dollars. The statements on this website have not been approved by the FDA. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.