Accused of defaulting on loans, Tommy's Boats sues boatmaker [Yahoo! Finance]
Malibu Boats, Inc. (MBUU)
Last malibu boats, inc. earnings: 2/6 07:00 am
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Source: Yahoo! Finance
Tommy's Boats, which has three locations in Michigan including one on Morrissey Drive off of West River Drive in Plainfield Township, filed the lawsuit on April 10 against Malibu Boats Tommy's is also facing its own court case, accused by its bank of defaulting on loans, News 8 partner Crain's Grand Rapids Business reports TOMMY'S BOATS SUES MALIBU BOATS Tommy's Boats is accusing Malibu of an “intentional and fraudulent scheme on the part of its CEO, Jack Springer.” The lawsuit claims Malibu pressured the dealership, which has 15 locations throughout the state, to increase its floor plan for the Malibu and Axis brands from $50 million to $85 million, and then increase it again to $110 with a $20 million over limit. It says Malibu withheld financial incentives the dealership had earned in 2022, and “used promises of additional incentives to be earned as additional financial pressure on Tommy's to increase its floor plan financing capacity.” It says Springer did so to inflate M
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MBUU
News
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Malibu Boats, Inc. - MBUUPR Newswire
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Malibu Boats, Inc. - MBUUAccesswire
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Malibu Boats, Inc. - MBUUGlobeNewswire
- SHAREHOLDER ALERT: Malibu Boats Investigated by Block & Leviton For Potential Securities Law Violations; Investors Who Have Lost Money Are Encouraged to Contact the FirmAccesswire
- MBUU ALERT: Levi & Korsinsky Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Malibu Boats, Inc.Accesswire
MBUU
Earnings
- 1/30/24 - Beat
MBUU
Sec Filings
- 4/11/24 - Form 8-K
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- MBUU's page on the SEC website