From prominent lawyer Michael Avenatti's Twitter account:
Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball.
What a joke. Big Mike is a sh*tbag doufus.
It appears (for now) Nike's stock is taking it seriously
(https://www.zerohedge.com/s3/files/styles/inline_image_desktop/public/inline-images/2019-03-25_9-43-41.jpg?itok=ehpG_Ixz)
Quote from: Heisenberg v2.0 on March 25, 2019, 12:04:48 PM
It appears (for now) Nike's stock is taking it seriously
(https://www.zerohedge.com/s3/files/styles/inline_image_desktop/public/inline-images/2019-03-25_9-43-41.jpg?itok=ehpG_Ixz)
Time to buy. By the time Zion signs with them it'll have recovered
Or maybe not:
@eorden: NEW: SDNY is charging Michael Avenatti for "attempting to extract more than $20M in payments from a publicly traded company by threatening to use his ability to garner publicity to inflict substantial financial & reputational harm on the company if his demands were not met."
Quote from: Heisenberg v2.0 on March 25, 2019, 12:04:48 PM
It appears (for now) Nike's stock is taking it seriously
(https://www.zerohedge.com/s3/files/styles/inline_image_desktop/public/inline-images/2019-03-25_9-43-41.jpg?itok=ehpG_Ixz)
Nike is down exactly 19 cents today. So no, not really.
It didnt drop at all, but if were looking that closely at it...Nike's stock is going right back up haha
https://www.cnbc.com/2019/03/25/michael-avenatti-to-be-charged-with-wire-and-bank-fraud.html
Quote from: MUDish on March 25, 2019, 11:57:59 AM
From prominent lawyer Michael Avenatti's Twitter account:
Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball.
So, "prominent" is the new "attention-whoring blowhard"?
Just kidding you, Dish..."prominent" is a fair descriptor. Then again, so is "attention-whoring blowhard."
Quote from: Pakuni on March 25, 2019, 12:07:46 PM
Or maybe not:
@eorden: NEW: SDNY is charging Michael Avenatti for "attempting to extract more than $20M in payments from a publicly traded company by threatening to use his ability to garner publicity to inflict substantial financial & reputational harm on the company if his demands were not met."
Yeah, that took a sharp turn quickly the opposite direction.
As I write this, NKE is down 0.15% -- in other words, essentially flat.
The decline you provided the chart for, from last week, was earnings/guidance related. That happens sometimes, especially with a growth stock, and it had nothing to do with this "news," as it wasn't even reported.
Jeesh, Smuggles, I thought you were an investing "expert."
Quote from: LCDutchman on March 25, 2019, 12:03:02 PM
What a joke. Big Mike is a sh*tbag doufus.
Yes he is.
But that has nothing to do with whatever scandal he has or has not uncovered.
Quote from: damuts222 on March 25, 2019, 12:10:58 PM
It didnt drop at all, but if were looking that closely at it...Nike's stock is going right back up haha
This helped reverse the stock decline as it came out minutes after Avenatti's tweet:
Michael Avenatti arrested for alleged $20 million extortion attempt against Nike
https://www.cnbc.com/2019/03/25/michael-avenatti-to-be-charged-with-wire-and-bank-fraud.html
Celebrity lawyer Michael Avenattii has been arrested on charges related to an alleged $20 million extortion of the athletic apparel company Nike, federal authorities said Monday.
A press conference is scheduled to discuss the charges against Avenatti in Los Angeles on Monday afternoon.
(https://www.zerohedge.com/s3/files/inline-images/2019-03-25_10-04-33.jpg?itok=B-guuFUu)
Quote from: Heisenberg v2.0 on March 25, 2019, 12:16:51 PM
This helped reverse the stock decline as it came out minutes after Avenatti's tweet:
Michael Avenatti arrested for alleged $20 million extortion attempt against Nike
https://www.cnbc.com/2019/03/25/michael-avenatti-to-be-charged-with-wire-and-bank-fraud.html
Celebrity lawyer Michael Avenattii has been arrested on charges related to an alleged $20 million extortion of the athletic apparel company Nike, federal authorities said Monday.
A press conference is scheduled to discuss the charges against Avenatti in Los Angeles on Monday afternoon.
Classic. What a dirtbag.
Quote from: Pakuni on March 25, 2019, 12:07:46 PM
Or maybe not:
@eorden: NEW: SDNY is charging Michael Avenatti for "attempting to extract more than $20M in payments from a publicly traded company by threatening to use his ability to garner publicity to inflict substantial financial & reputational harm on the company if his demands were not met."
Truly one of the all-time hucksters
Quote from: Pakuni on March 25, 2019, 12:07:46 PM
Or maybe not:
@eorden: NEW: SDNY is charging Michael Avenatti for "attempting to extract more than $20M in payments from a publicly traded company by threatening to use his ability to garner publicity to inflict substantial financial & reputational harm on the company if his demands were not met."
This will probably help his Presidential run.
Tomorrow isn't April 1st, and MA has some low credibility...losing his arse out here in judgments and his own personal cases. Maybe he has something, but he also guaranteed something was to happen by 12/31/18...guaranteed....that this weekend officially destroyed that outcome.
Quote from: jfmu on March 25, 2019, 12:11:58 PM
https://www.cnbc.com/2019/03/25/michael-avenatti-to-be-charged-with-wire-and-bank-fraud.html
What a gem this guy is, and to think so many hopes and dreams were tied to him.....so much airtime, so much media backing and legitimacy....sad.
Stormy days ahead for Mr. Avenatti, it would seem.
NKE ends the session up.
So does BA.
Both are good long-term investments, have owned both stocks for years and expect to own them many years from now.
Short-term traders always brag about their "wins" but rarely admit their losses.
Superbar.
Interesting mubb tidbit. According to Jeff Goodman, the AAU coach involved with Avenatti is Gary Franklin Sr. who was the director of Cal Supreme. Cal Supreme was Katin Reinhardt's AAU program back in the day.
Obviously I don't believe there is anything involving Marquette, but I was surprised to see him listed on notable alumni of the program.
(https://s3media.247sports.com/Uploads/Assets/367/299/8299367.gif)
Quote from: Mr. Sand-Knit on March 25, 2019, 03:52:25 PM
Seems this guy had as much dirt on Nike as Mueller had on Trump. Well at least he didnt hold the country hostage on suspicion, lies, and innuendo for two full years.
Political free board, plz leave your clever quips in your clever mind.
Quote from: Mr. Sand-Knit on March 25, 2019, 03:52:25 PM
Seems this guy had as much dirt on Nike as Mueller had on Trump. Well at least he didnt hold the country hostage on suspicion, lies, and innuendo for two full years.
Read your post. Then read your signature. Then 'splain yourself.
"Stormy's lawyer teamed up with Jussie's lawyer to extort Kaepernick's sports apparel company." ::)
Quote from: MU82 on March 25, 2019, 04:00:36 PM
Political free board, plz leave your clever quips in your clever mind.
Sorry 'bout your anti-depressants, but I am much happier now.
Quote from: Benny B on March 25, 2019, 04:09:48 PM
Sorry 'bout your anti-depressants, but I am much happier now.
That makes me sad, Benny.
Quote from: MU82 on March 25, 2019, 04:12:19 PM
That makes me sad, Benny.
Have you considered stealing someone's anti-depressants.
Quote from: Benny B on March 25, 2019, 04:26:37 PM
Have you considered stealing someone's anti-depressants.
;D ;D ;D ;D ;D
Quote from: Cheeks on March 25, 2019, 02:27:44 PM
Tomorrow isn't April 1st, and MA has some low credibility...losing his arse out here in judgments and his own personal cases. Maybe he has something, but he also guaranteed something was to happen by 12/31/18...guaranteed....that this weekend officially destroyed that outcome.
I'm not a fan of his, but the bolded simply isn't true. Though I'm pretty sure you're just trying to get this closed on a political basis.
Quote from: brewcity77 on March 26, 2019, 07:06:17 AM
I'm not a fan of his, but the bolded simply isn't true. Though I'm pretty sure you're just trying to get this closed on a political basis.
Many anti-depressants issued of late, trend will continue
Quote from: Cheeks on March 26, 2019, 09:13:27 AM
Many anti-depressants issued of late, trend will continue
Nah, you're just ignoring a lot of other activity going on because of one 4-page summary. SDNY, NYAG, etc etc etc is still happening.
First time I've ever typed this ...
IBTL
COLLEGE ADMINISTRATORS WATCHING AVENATTI-NIKE
• Ever since the college basketball scandal broke 18 months ago, college leaders have anticipated more troubling accusations. That's exactly what celebrity lawyer Michael Avenatti claimed he had on Nike -- evidence of a shoe brand paying high school players and influencing them to go to certain Nike schools. On Twitter, Avenatti specifically took aim at Oregon and Arizona.
• Avenatti's plans for a news conference today were derailed when he was charged with trying to extort Nike, but he still released some details via Twitter accusing Nike of paying players. While Avenatti can come off as somewhat clownish, that doesn't mean his claims are without merit, and that's what has college administrators' attention. Virtually no one thinks that Adidas, which had two of its execs found guilty of wire fraud in October, was the only shoe company paying players.
• The other issue that has college leaders holding their breath -- when will the NCAA act on the testimony that's in federal court documents in this case? The information contained in those testimonies can be used against schools in NCAA investigations, no questions asked, creating a level of angst about what penalties are still to come. What's certain is that this dark chapter in college basketball is far from over.
Quote from: Cheeks on March 26, 2019, 06:10:19 PM
COLLEGE ADMINISTRATORS WATCHING AVENATTI-NIKE
• Ever since the college basketball scandal broke 18 months ago, college leaders have anticipated more troubling accusations. That's exactly what celebrity lawyer Michael Avenatti claimed he had on Nike -- evidence of a shoe brand paying high school players and influencing them to go to certain Nike schools. On Twitter, Avenatti specifically took aim at Oregon and Arizona.
• Avenatti's plans for a news conference today were derailed when he was charged with trying to extort Nike, but he still released some details via Twitter accusing Nike of paying players. While Avenatti can come off as somewhat clownish, that doesn't mean his claims are without merit, and that's what has college administrators' attention. Virtually no one thinks that Adidas, which had two of its execs found guilty of wire fraud in October, was the only shoe company paying players.
• The other issue that has college leaders holding their breath -- when will the NCAA act on the testimony that's in federal court documents in this case? The information contained in those testimonies can be used against schools in NCAA investigations, no questions asked, creating a level of angst about what penalties are still to come. What's certain is that this dark chapter in college basketball is far from over.
Source?