Wow nice find. Don't tell me you just stumbled upon this link =)

Wonder if we will see how much moneh is involved when the case gets to court.

In the complaint, she alleges the following ---

In 2004, Clonie was offered (and accepted) 1% ownership of Tiltware and FTP in exchange for being a celebrity representative...

Has worn FTP merchandise and promoted FTP in exchange for that ownership interest (no other compensation)...

In May 2007, all Team FTP members received distribution checks but her...she demanded distribution owed to her, refused...

Nov 6, 2007, Lederer offered to pay her $250k for her past performance on behalf of company, she refused cuz only fraction of what was owed to her...

Clonie estimates company worth $4 billion...

Despite not being paid, continued to work and promote company until November 11, 2008, when she was informed that FTP would issue a press statement informing public she was no longer a Team FT Pro...

Still has not been given reason all other Team FT pros given distribution but her...

Claims against all defendants:

1. Breach of Contract --- claiming damages of $40 million...
2. Breach of Fiduciary Duties
3. Breach of Covenant of Good Faith and Fair Dealing
4. Unjust Enrichment

5. Fraud/Intentional Misrepresentation (alleges Bitar contacted her in 2004 and told her they wanted her to be "the FTP female pro"...then in May 2004, attended meeting at Golden Nugget in Ivey's Suite...majority of Team FT was there, and Lederer led the meeting...He informed group that their ownership interests were not only in FTP but also in Tiltware, and Tiltware would charge FTP a high leasing fee.

That's pretty much the substance of the complaint. It was just filed yesterday, so nothing else has really been filed.

Yeah, I just jerked the case abstract off PACER too. Pretty interesting so far.

**edit** delete that second part. Nevermind.

FTP estimated Net Worh: 4,000,000,000

wow pretty gross. interested to see what develops

This donkey has always tilted me so hard. I'm glad she's no longer on FT and i hope she loses the case and the costs bankrupts her.

She looks like a melting wax work anyway.

LOL Secret Bat Cave Meetings...



If they ever make a UIGEA move on FTP, I'd bet my balls a lot of the stuff asserted in this suit will be cited, as far as the whos, whats and wheres.

How do you estimate the wort of a company that is seemingly in complete private ownership? In school i have learned that it is worth the sum of discounted future earnings. A rule of thumb is that you simply add the estimate the earnings of the next 5 years (since the company has a high risk of going out of business within the next decade you can apply this rule of thumb here). So FTP earns 800 million a year (netto). Realistic?

I'm going to go out on a limb here and guess that anecdote and hearsay may be the basis for it. In the case abstract, it's stated "Plaintiff is informed and thereupon alleges that the companies estimated value is in excess of $4,000,000,000".

Pertinent parties will probably be asked under oath.
Hope they all paid their taxes to the penny, or else we might see some 5th Amendment invocations.

(disclaimer- not a lawyer, but have been a defendant before )

Also, anyone wanna bet that the OP's IP address resolves either to Vegas or Texas? Pretty strange that there hasn't been any public chatter about this, yet the Justia data is posted as a "question" within 24 hours of the papers being filed. Obviously, OP is an interested party of some kind, acting on the behalf of an interested party or closely connected to an interested party.

(or maybe just knows someone who knows someone who talked about it earlier today and did a Justia search)

You mean you don't log into PACER each day with a list of 100 or so names you search? C'mon man...get with the program.

Either way, it's kind of messed up if the allegations are true. Also, if true, Lederer seems like an ass.

how much are you betting?

Eleventy brazillion...

Seriously, even if it doesn't resolve to a particular location, there's just no way that this isn't an interested party of some kind (or a person connected to an interested party), unless someone is just so obsessed with Clonie Gowen that they randomly search her name for court filings on a daily basis.

I mean, there is precisely 0 chatter about this online, aside from this thread and whatever threads this has spawned on other poker forums in the last couple hours.

*shrug*