I had a new article published in Forbes yesterday concerning the pending legal battle that has All Pro Sports & Entertainment Inc. and its founder C. Lamont Smith on one side and Peter Schaffer, JR Rickert, and their new company Authentic Athletix on the other side.
The article contains a synopsis of the main documents filed in the ongoing litigation, along with a recent ruling by the court and quotes from Smith and Schaffer. The final paragraph of the article is as follows:
Peter Schaffer has begun paying monies to the court appointed receivership. Schaffer reiterates that his business is flourishing, but does not appear to have much confidence in APSE’s ability to stay afloat. Schaffer notes that of the sixty clients that he and Smith shared at APSE, a whopping fifty-four of them left with him when he formed Authentic Athletix, LLC. ”I have revenue coming in from my other clients, so I’m fine,” said Schaffer. ”Theft, taking money, inequitable distribution, and mismanagement are the reasons why APSE is out of money and why it owes $1,000,000 in credit.”