Lawsuit Dismissed...NO MERGER

Claire B Lang is reporting Robby and GEM have settled their lawsuit out of court and no merger will take place. So...what happens now??

Views: 123

▶ Reply to This

Replies to This Discussion

Permalink Reply by Rod on September 19, 2008 at 4:19pm
?????????????? That about sums it up!
Permalink Reply by Racingwench on September 19, 2008 at 4:24pm
all I was able to find on the web right now is from Foxsports.com:

Robby Gordon Motorsports and Gillett Evernham Motorsports today announced that they have agreed on terms for the resolution of the issues growing out of their former plan to merge the two teams.

Disagreements over the merger led to the recent filing of a lawsuit to have the court determine the parties' rights under the merger agreement. As part of the resolution, the lawsuit will be dismissed and the merger will not proceed. Management personnel for the two teams acknowledge that there were misunderstandings, but both sides acted in good faith throughout, and in the end it was circumstances beyond their control that caused the merger not to proceed.
Permalink Reply by Beagle7 on September 19, 2008 at 4:29pm
suits don't just get "dropped" when a party who agrees to buy you for 23.5 million decides not to and tries to finagle out of it with a BS breach suit against you.

GEM paid to have this thing dropped..no doubt. I hope it was for a few million (my guess is ballpark 5 million)
Permalink Reply by GrayAntiMatter on September 20, 2008 at 1:20am
Thats hillarious.
Permalink Reply by kolby1967 on September 19, 2008 at 4:23pm
No details were released by GEM press release..... I mean where does RGM end up next year? Still a single car or maybe DEI/ uncle John combo
Permalink Reply by Terie (aka vassinvegas) on September 19, 2008 at 4:25pm
Well, so much for all the speculation that went on here. l don't think RG is sharing what he's doing with anyone but his most trusted people, and those people know how to keep their mouths shut...that's why they're trusted with the important stuff. Just have to wait and see.
Permalink Reply by TOG on September 19, 2008 at 9:21pm
stuff changed daily with this. Even his close peeps were in the dark.
Permalink Reply by brian campbell on September 19, 2008 at 4:46pm
i hate waitting
Permalink Reply by jaeway on September 19, 2008 at 4:49pm
rgm still owes about 350 thousand for the mgmt fee whom brokered the deal with gem so you know he got something from gillett
Permalink Reply by jaeway on September 19, 2008 at 4:51pm
i remember when leffler got the boot from the joe gibbs 11 fedex he got more than 5 mill and he only raced for 2/3 season
Permalink Reply by Christy... aka "robbyfan1st". on September 19, 2008 at 4:51pm
Rock on Robby...I have always said he didn't just fall off the turnip truck. He knew all along what he was doing and won the game a friend of mine calls "Out Dumb You". ....I just can't see Robby selling RGM unless he is no longer able to operate and then I believe he may merge, but never sell the team. If his dream dies, it won't be from his lack of trying through the "last Lap".In Nascar, things aren't always as they seem, a lot of smoke and mirrors. Gas On Robby!!!
Permalink Reply by Kevin Meyer on September 19, 2008 at 5:19pm
still think RG should see what Tony is doinging with SHR.. driver owners probably could work something out for those hendrick motors

RSS

© 2024   Created by TOG.   Powered by

Badges  |  Report an Issue  |  Terms of Service