Brett Favre claims he was merely the face of a company being sued for allegedly defrauding an investor out of $16 million and therefore played no other part in the alleged deal gone wrong.
As The Blast first reported, Callais Capital Management claims Favre and the executives of Sqor Sports made a series of negligent and fraudulent misrepresentations to induce CCM to invest. Sqor was supposed to be a social network that was planned as a way to connect fans with their favorite professional athletes — but it never took off.
CCM claims Sqor made a series of false statements to induce them to invest $16 million into the company.
According to court documents filed recently and obtained by The Blast, the defendants (including Favre) claim they cannot be held liable for “statements that amount to puffery – generalized, positive statements about the company’s competitive strengths, experienced management, and future prospects.”
The docs also state that “a forward-looking statement” — a statement containing revenue projections or objectives of management for future operations — is not actionable if “it is identified as a forward-looking statement and is accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those in the forward-looking statement.”
As for Favre, he claims that he is only referenced in the original lawsuit as “a featured athlete for Sqor and participated in promotional efforts through Sqor.” He claims that CCM alleges no facts showing that Favre had any control over any of the statements made by Sqor “or that he actually participated in any of the alleged misrepresentations.”
The defendants are looking to have the case dismissed. A judge has yet to rule.