It’s no secret that Scottie Pippen has had some money problems in recent years and this was widely assumed to be the reason that he attempted his short-lived comeback to the NBA last season.
Now he’s suing one of the companies that helped him lose his dough. It’s called Learn.com and apparently does something related to employee training.
Pippen, who became a Learn.com shareholder in 2001 while playing with the Portland Trail Blazers, accuses two company officials of financial shenanigans in a lawsuit filed this month in Broward Circuit Court.
Learn.com made a $160,000 loan to a company connected with its president and chief executive, Jim Riley, without disclosing the relationship, Pippen claims in the suit.
Shareholders also weren’t told about a $305,000 loan made to Chief Operating Officer JW Ray, the suit alleges.
In addition, Pippen alleges Riley’s company and Ray were allowed to buy Learn.com stock at prices far below ”adequate consideration.” Pippen filed the suit on behalf of the company and its shareholders.
All of this is fairly boring and I really don’t have much interest in Scottie’s economic woes other than to wish the guy all the best, but this story comes to me via the always well-breasted Sports By Brooks, which has some less-heartfelt advice for soon-to-be Hall of Famer.
I feel for Pippen – he’s clearly a shrewd businessman who has just run into a rough patch with his investments. A very, very, rough patch. But I’d like to offer him an investment opportunity that is guaranteed to make all his money back and then some. I can’t get into too many details, but I happen to the be the son of a former Nigerian Head of Finance who was killed in a plane crash last year. Scottie, please send me your e-mail if you want more information.
(Think he’ll buy that? If not, I’ve got something else that might get some of his money. One word: monorail.)
The only other thing worth noting is that former Kings coach Eric Musselman is banging a stone-cold fox and, in related news, this, which both come by way of SBB.
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