The Situation Vs Vodka Company

11/21/2012
.
(TMZ) The Situation recently filed a lawsuit against Devotion Spirits -- a company he inked an endorsement deal with back in 2010. According to the lawsuit, Sitch says he did his part and made the booze the success it is today -- but is adamant the company didn't hold up their end of the deal.

Specifically, Sitch claims the deal called for him to acquire an 8% ownership stake in the company -- which he says he got -- but that Devotion failed to add 2% to his ownership share on their one-year anniversary, like the deal called for.

Sitch also claims they failed to provide him with a $400,000 "buy back" option for his shares on their two-year anniversary and failed to supply him with sales reports.

Sitch says even though he performed his contractual obligations, Devotion kept looking for an excuse to cut him out and avoid paying him the money he's owed.

He is suing for his entire 10% share in the company (which he estimates to be worth as much as $5 million) and other damages. more on this story

TMZ submitted this story.
Copyright TMZ - Excerpted here with permission.

advertisement

Jersey Shore DVDs and Blu-Rays

Jersey Shore T-shirts and Posters

Share this article
Share on Facebook Share on Twitter Share on Google+ Pin it Share on Reddit email this article


...end


advertisement



Follow Us:

Contact Us - Privacy - Why we are antiMusic

Copyright© 1998 - 2017 Iconoclast Entertainment Group All rights reserved.

Please click here for legal restrictions and terms of use applicable to this site. Use of this site signifies your agreement to the terms of use.