The NewAge Liquidator has sued NewAge’s former executive team for “substantial harm”. The Defendants … brought financial devastation to the Company through their grossly negligent, reckless, and/or willful abdication of their fiduciary obligations and other unlawful conduct. Named Defendants in the NewAge Liquidator’s May 31st Complaint include:
Ariix @ BehindMLM
NewAge has come out of bankruptcy with new ownership and a new company name; PartnerCo. PartnerCo’s new “identity” announcement was made on February 13th… …although plans for the rebranding appear to date back to January:
Ariix has been fined €960,000 EUR for consumer fraud by Italy’s Competition Authority (AGCM).
NewAge has settled violations of the Securities and Exchange Act with the SEC. As per an October 19th order, NewAge consented to a cease and desist.
The SEC has sued former NewAge CEO Brent Willis for fraud. According to the regulator, Willis told porky pies which contributed to NewAge’s “growth and success”.
NewAge’s bankruptcy just got a whole lot more interesting. Having secured NewAge through a Purchase Asset Agreement back in August, John R. Wadsworth’s first order of business is suing the company’s former executives. Update 19th October 2022 – Clarification on the above sentence; while Wadsworth did sign a NewAge purchase agreement back in August, the [Continue reading…]
Approval has been granted to sell NewAge off to original Morinda co-founder John Wadsworth.
NewAge filed for Chapter 11 bankruptcy on August 30th. The filing affects subsidiary MLM companies Noni by NewAge and Ariix.
The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny [Continue reading…]
Haskell Knight, better known in the MLM industry as Trey Knight, has been indicted on three felony counts of wire fraud.