Report: Brett Favre sued by investors for now-defunct social media company
NFL Hall of Famer Brett Favre is being sued by a capital management firm for his role in Sqor Sports, a failed sports-specific social media network, according to documents obtained by The Blast.
Favre joined Sqor’s board of directors in 2013, and became a co-owner, but the platform never blossomed. It now appears to be defunct. Its website and app are unavailable, and it hasn’t posted on social media since last May.
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And now, Callais Capital Management (CCM), a Louisiana-based firm, reportedly claims that it was convinced to invest in the company by “negligent and fraudulent misrepresentations” from Favre and his Sqor colleagues.
CCM apparently put $16 million into Sqor to “fund immediate international growth and allow the company to secure up to 10 major Sports Enterprises over the next six months,” according to The Blast. It was reportedly promised significant profits.
The suit reportedly alleges that Sqor projected its 2018 income to be $44 million. CCM also alleges that Sqor made false claims about its user base and social reach.
CCM calls out Favre for allowing the other execs to conflate Favre’s social media followers and fans with those of Sqor and misstating the influence of Sqor based on Favre’s own social media reach.
Sqor told CCM that they were working on getting other sports teams like the Lakers, Chicago Bulls and NFL players to join the social network. They even said they met with the NFL Players Association and had a verbal agreement to move forward with an official partnership.
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Sqor even claimed to CCM other athletes — like Conor McGregor, Rob Gronkowski, Odell Beckham Jr., Allen Iverson and others — were using the network and were bringing in millions of impressions. The suit says none of the athletes were actually using Sqor and the millions in impressions was a lie.
Favre helped promote Sqor with the company’s founder and CEO, Brian Wilhite, a few years ago:
The suit is reportedly seeking $16.75 million plus damages.
