NBCUniversal and companies linked to its CNBC show “The Profit” and its frontman, entrepreneur Marcus Lemonis, have prevailed in aAn arbitrator in May dismissed fraud and breach of contract claims that were brought by the bankruptcy trustee of Precise Graphix, a Pennsylvania interior decor manufacturer that appeared on the show and later collapsed, finding that the allegations were “unsupported by competent, credible evidence.
“Given the complete failure of competent, credible evidence supporting her allegations at the hearing, the Trustee cannot establish the required elements of the fourteen causes of action alleged in the Demand,” arbitrator Ann Jones said in her ruling. “Even if one were to find the testimony proffered by the Trustee in support of her claims credible , several of the causes of action asserted by the Trustee would still fail as a matter of law.
The case was one of several of complaints involving “The Profit,” a popular, eight-season-long documentary-style show about struggling businesses that swap a stake in the company for cash and Lemonis’ guidance.“I don’t feel vindicated,” Lemonis said in an interview. “And the reason that I don’t is because I knew I didn’t do anything wrong. I never would have thought a television show would turn into this.
The Pennsylvania design company appeared on an episode of “The Profit” in 2015. The founders were seeking new capital and help to expand their business. Instead, the 222-page lawsuit alleged, the show caused the company’s downfall.
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