Al Haymon - Waddell & Reed investment

[caldo2025]

I've seen multiple interviews with PBC Boxers in which they let the cat out of the bag unknowingly, I would assume. What they've all alluded to was that the first year of PBC was to merely showcase the product and create interest. Year two is when the brass meet the brass and the soup is stirred. Year three is where I think that a belt is going to be introduced and a world champion is recognized.

The hard part of course is getting to year 3. But let's be realistic about this. If the PBC was in the type of trouble that this OP suggests then you bet we'd start seeing some desperate televised cards that were jam packed with A sides fighting A sides. There's absolutely no desperation yet in these cards that I can see. Thurman and Porter was put together faster and easier than I thought it would but that's been a rumored fight for a long time.

So until I see some desperation visible in Haymon risking the studs within in stable then I'd consider this OP to be on track but right now, it seems like business as usual.

[crusader]

http://www.kansascity.com/news/business ... 90703.html

[tiny_acres]

I've seen multiple interviews with PBC Boxers in which they let the cat out of the bag unknowingly, I would assume. What they've all alluded to was that the first year of PBC was to merely showcase the product and create interest. Year two is when the brass meet the brass and the soup is stirred. Year three is where I think that a belt is going to be introduced and a world champion is recognized.

The hard part of course is getting to year 3. But let's be realistic about this. If the PBC was in the type of trouble that this OP suggests then you bet we'd start seeing some desperate televised cards that were jam packed with A sides fighting A sides. There's absolutely no desperation yet in these cards that I can see. Thurman and Porter was put together faster and easier than I thought it would but that's been a rumored fight for a long time.

So until I see some desperation visible in Haymon risking the studs within in stable then I'd consider this OP to be on track but right now, it seems like business as usual.

I agree 100%...You actually had a well thought out opinion.
Seriously you nailed this.When we start seeing a jam packed card on NBC prime time that is when we should start to worry.
But for now business as usual

[caldo2025]

I've seen multiple interviews with PBC Boxers in which they let the cat out of the bag unknowingly, I would assume. What they've all alluded to was that the first year of PBC was to merely showcase the product and create interest. Year two is when the brass meet the brass and the soup is stirred. Year three is where I think that a belt is going to be introduced and a world champion is recognized.

The hard part of course is getting to year 3. But let's be realistic about this. If the PBC was in the type of trouble that this OP suggests then you bet we'd start seeing some desperate televised cards that were jam packed with A sides fighting A sides. There's absolutely no desperation yet in these cards that I can see. Thurman and Porter was put together faster and easier than I thought it would but that's been a rumored fight for a long time.

So until I see some desperation visible in Haymon risking the studs within in stable then I'd consider this OP to be on track but right now, it seems like business as usual.

I agree 100%...You actually had a well thought out opinion.
Seriously you nailed this.When we start seeing a jam packed card on NBC prime time that is when we should start to worry.
But for now business as usual

I probably copied this from somewhere, Tiny. There must be some kind of explanation for this. LOL

[keirw]

I don't fully understand the fiscal side of things, but Haymon is a very successful businessman and successful businessmen generally don't throw money away, even other people's money.
Also investment bankers don't hand over nine figure sums unless they are 100% certain they will make a profit in the long run, the bigger the potential profit, the longer they would be willing to wait, I imagine.
It is not uncommon for a new venture to turnover a loss early on, I'm sure that Haymon has a long term plan that will make him, his investors and his fighters a lot of money over the next few years. He wouldn't have received the investment otherwise.

[ImranSarwar]

Hard to get a handle on this. Sure is OUT of OUR hands!

Enjoy the FIGHTS, everyone! Won $90.00 against $240 on the IBF HVY-wt. the other day! [Wonder where Martin will go now; SEE THE Radio Raheem interview with Charles Martin post fight].
I'm making a COMEBACK MYSELF. 147lbs.

[Chepppaaa]

As people who have followed the whole Haymon/PBC venture closely- they'll know that Haymon received a large pool of funding from various venture capital/hedge funds, etc. Anyway, a chap on another site has been looking at the quarterly results and come to some interesting conclusions .....

Haymon started out with an investment of $529 million *circa* from Waddell & Reed and by September 2015 the value of the combined investment was $214 million and by December 31st the combined investment was worth $82 million *circa*. Anyway this guy has worked out that if it continues to Hemorrhage money like this, the investment will be worthless by the end of February. Waddell and Reed as a fund has also dropped rather heavily in it's share price allegedly.

This obviously isnt great news for boxing if this guys predictions come true whether you're a Haymon or a PBC fan.

so he burnt over 300 million

but what did he earn. how much for example did haymon get from the mayweather-pacquiao fight....and other events.

[scallum2015]

As people who have followed the whole Haymon/PBC venture closely- they'll know that Haymon received a large pool of funding from various venture capital/hedge funds, etc. Anyway, a chap on another site has been looking at the quarterly results and come to some interesting conclusions .....

Haymon started out with an investment of $529 million *circa* from Waddell & Reed and by September 2015 the value of the combined investment was $214 million and by December 31st the combined investment was worth $82 million *circa*. Anyway this guy has worked out that if it continues to Hemorrhage money like this, the investment will be worthless by the end of February. Waddell and Reed as a fund has also dropped rather heavily in it's share price allegedly.

This obviously isnt great news for boxing if this guys predictions come true whether you're a Haymon or a PBC fan.

Well its Mid April now and Haymon and Pbc still going strong. I guess your #s were way off :)

[crusader]

I wonder why Al decided to load up on Showtime cards then....couldn't cut it with so many time buys?

[Andrew]

I wonder why Al decided to load up on Showtime cards then....couldn't cut it with so many time buys?

What Network is the Spence card on ?

[Boxing Prospect]

As people who have followed the whole Haymon/PBC venture closely- they'll know that Haymon received a large pool of funding from various venture capital/hedge funds, etc. Anyway, a chap on another site has been looking at the quarterly results and come to some interesting conclusions .....

Haymon started out with an investment of $529 million *circa* from Waddell & Reed and by September 2015 the value of the combined investment was $214 million and by December 31st the combined investment was worth $82 million *circa*. Anyway this guy has worked out that if it continues to Hemorrhage money like this, the investment will be worthless by the end of February. Waddell and Reed as a fund has also dropped rather heavily in it's share price allegedly.

This obviously isnt great news for boxing if this guys predictions come true whether you're a Haymon or a PBC fan.

Well its Mid April now and Haymon and Pbc still going strong. I guess your #s were way off :)

TBF it's not like they've been doing much in 2016 so far (TBH though not theirs been that much top level boxing this year anyway)

[Boxing Prospect]

Dan Rafael on twitter

“Purses for #PBConNBC card Sat night: Spence $225k, Algieri 325k, Glowacki 150k, Cunningham 225k, Browne 100k, Kalajdzic 85k. #SpenceAlgieri,”

Algieri getting more than Spence and Cunningham getting more than Glowacki (who isn't getting much more than Browne)...interesting

[Ricky_]

http://www.latimes.com/sports/la-sp-al- ... story.html

[crusader]

I wonder why Al decided to load up on Showtime cards then....couldn't cut it with so many time buys?

What Network is the Spence card on ?

NBC, but a bunch of high quality fights with Haymon fighters were recently put on Showtime when boxing there seemed to have sputtered out. PBC certainly isn't dead, but it seems to me like reevaluating has been going on and someone decided that time buys could not be so heavily relied on.

http://boxrec.com/forum/viewtopic.php?f ... 794&hilit=

[scallum2015]

As people who have followed the whole Haymon/PBC venture closely- they'll know that Haymon received a large pool of funding from various venture capital/hedge funds, etc. Anyway, a chap on another site has been looking at the quarterly results and come to some interesting conclusions .....

Haymon started out with an investment of $529 million *circa* from Waddell & Reed and by September 2015 the value of the combined investment was $214 million and by December 31st the combined investment was worth $82 million *circa*. Anyway this guy has worked out that if it continues to Hemorrhage money like this, the investment will be worthless by the end of February. Waddell and Reed as a fund has also dropped rather heavily in it's share price allegedly.

This obviously isnt great news for boxing if this guys predictions come true whether you're a Haymon or a PBC fan.

Well its Mid April now and Haymon and Pbc still going strong. I guess your #s were way off :)

TBF it's not like they've been doing much in 2016 so far (TBH though not theirs been that much top level boxing this year anyway)

4 cards Scheduled in April

[Evander]

What is the matter with you people ?
I could site you dozens of examples even worse than this.
The bottom line is this ...
There is and has been a campaign against the pbc, been going on for some time.

What's on offer.
The people opposing the pbc want control over the outcome because it sustains part of their economic portfolio.
It's as simple as that.
I'll guarantee you one thing, it will be business as usual should the pbc fail and it's just a matter of cue the decision complaints like we experienced in the past.
The U.S will likely move onto UFC if this or any other venture goes by the wayside, do you understand what that means for our sport ?

[Evander]

And when they do the economic climate which is pretty close to serious at this stage will warrant action.

[Lancenix]

PBC is still a bunch of mismatches and getting low ratings. Haymon has been reluctant to risk any of his fighters and without ratings it will not find traction. It has not found any traction into the mainstream and unless something changes it won't be back for 2017. So far it has been mainly junk.

[crusader]

According to Rafael:

#PBConNBC lowest overnights yet. Averaged 1.24M viewers. Very poor. Way less than previous worse (1.85M for Dec. 12 card). #boxing

Every #PBConNBC primetime card has attracted fewer viewers than the previous one. Not a good trend. Opposite of what you want. #boxing

The card was actually pretty solid last night though.

[Lancenix]

According to Rafael:

#PBConNBC lowest overnights yet. Averaged 1.24M viewers. Very poor. Way less than previous worse (1.85M for Dec. 12 card). #boxing

Every #PBConNBC primetime card has attracted fewer viewers than the previous one. Not a good trend. Opposite of what you want. #boxing

The card was actually pretty solid last night though.

Nah it was more PBC junk. But horny boxing fans will take anything they can get. That is what it has come down to.

[crusader]

http://www.courthousenews.com/2016/04/2 ... boxing.htm

OLATHE, Kan. (CN) — Kansas-based business trusts let a portfolio manager spend $925 million on a "potentially criminal" start-up pro boxing company rather than the stable investments they advertised, shareholders claim in court.

Saket Kapor and two others sued Ivy Investment Management Co. and Waddell & Reed Investment Co. on April 18 in Johnson County Court. They also sued 16 directors of the trusts — but not Ryan Caldwell, the portfolio manager they accuse of spending the money for his own intended benefit. Ivy Investment and Waddell & Reed are both Delaware business trusts based in Overland Park, Kan. Kapor, Peter Brockett and Hieu Phan filed the lawsuit as a shareholder derivative complaint.Beginning in April 2013, the plaintiffs say, the trustees let Ryan Caldwell, one of the two portfolio managers of Ivy Asset Strategy Fund and the Waddell & Reed Asset Strategy Fund, spend approximately $925 million on "a start-up and potentially criminal" professional boxing promotion company. "These purchases had no economic justification, but rather were motivated by Caldwell's personal interest and benefit," the complaint states.The plaintiffs claim Caldwell knew the companies faced hundreds of millions in short-term losses, but pledged financial support from the funds to entrepreneur Alan Haymon, who is not a party to the case.

"This private stock investment violated the stated terms of the Prospectuses for the Funds, which describe an investment strategy that 'primarily focuses on securities issued by large capitalization companies,' that 'can offer a high probability of return or, alternatively, can provide a high degree of relative safety in uncertain times, with Strong cash flow streams: and 'high sustainable cash flow,'" the complaint states. "Investing nearly a billion dollars of private securities in a start-up boxing promotion company, as high-risk a venture as one could imagine, meets none of these criteria."
The plaintiffs say Caldwell's actions were inappropriate because as a fund manager he should have been making objective investment decisions. In June 2014, the plaintiffs say, Caldwell resigned from the funds to join one of Haymon's companies. They question whether he actually resigned, or was fired by the trustees for making the investments, and whether he had a quid pro quo agreement with Haymon's company. "In either case, the trustees have not acted properly," the complaint states.

Haymon's activities have been the subject of several lawsuits recently, according to the complaint. The Courthouse News database shows Haymon as a defendant in four lawsuits since 2013, all involving pro boxing, and another lawsuit in 2005, also involving boxing. An independent association of State Boxing Commissioners asked the Justice Department to investigate Haymon's business practices, the plaintiffs say.They say the defendants kept them in the dark."The Funds made no meaningful disclosure about their investment in this company, or how this investment was different from, or carried risks that were different from, the disclosed strategies in the Prospectuses," the complaint states. "The Funds also did not disclose Caldwell's personal relationship with Haymon or how that relationship influenced the decision to invest in Haymon's company — or how such a relationship might present a conflict of interest."

The plaintiffs say that whether the defendants knew that Caldwell was investing nearly a billion dollars "into a high-risk start-up that was designed to violate antitrust laws" or not, they should have known the investment was well outside the bounds of the funds' investment strategy.Roger Hoadley, a vice president and director of communications for Ivy Investment and Waddell & Reed Financial said in an email that the underlying facts of the new lawsuit are similar to two others that were dismissed last year. He said that while the claims are different, they all relate to a single investment in the company's Asset Strategy Funds that represents less than 1 percent of its holdings.

"The suit includes significant factual errors and language that brings question to its overall merit," Hoadley said in the statement. "Lawsuits such as this often arise when the value of a fund has declined. We are continuing to evaluate the pleadings and case strategy and will respond appropriately. Regardless, our commitment to managing fund investors' money and striving to deliver strong results remains unchanged." Caldwell started a new mutual fund company called Chiron Investment Management, which is a partnership with three former bankers from Goldman Sachs, according to a July 2015 article by The Wall Street Journal. Under Caldwell's watch, The Ivy Asset Strategy Fund delivered average returns of 10 percent over the past decade — third-best among comparable managers, according to the Journal.

Waddell & Reed announced recently that it would lay off 10 percent of its full-time employees, as its first quarter profits this year fell by 44 percent, the Kansas City Star reported.
The plaintiffs seek $925 million in restitution to the funds. They are represented by John Jackson Miller with Swanson Midgley, in Kansas City, Mo. Haymon was named as a defendant in two antitrust complaints in Los Angeles Federal Court in 2015; a 2014 contract complaint in Miami-Dade County; a 2013 summons and complaint in Essex County Superior Court, Newark; and a 2005 contract complaint in Clark County, Las Vegas.

[montrealsuper]

PBC was always just a B and C in house league of protected patsies - the public wants the best vs the best not a WWF boxing league choreographed with fancy packaging by a con artist - There's a reason why Al H has hid in the shadows all these years - he's a crook who cheated the sport the fans and history with his fraud league of B or C level in house fake fights - GOLDEN RULE: you can't create fraud stars with fraud set ups - the only way to create stars is to pit the best vs the best and who ever wins is the star - gotta earn it - no shortcuts - handpicking patsies for a fraud will never create a new star - NEVER - The failure of PBC is proving this --

[Lancenix]

http://www.courthousenews.com/2016/04/2 ... boxing.htm

OLATHE, Kan. (CN) — Kansas-based business trusts let a portfolio manager spend $925 million on a "potentially criminal" start-up pro boxing company rather than the stable investments they advertised, shareholders claim in court.

Saket Kapor and two others sued Ivy Investment Management Co. and Waddell & Reed Investment Co. on April 18 in Johnson County Court. They also sued 16 directors of the trusts — but not Ryan Caldwell, the portfolio manager they accuse of spending the money for his own intended benefit. Ivy Investment and Waddell & Reed are both Delaware business trusts based in Overland Park, Kan. Kapor, Peter Brockett and Hieu Phan filed the lawsuit as a shareholder derivative complaint.Beginning in April 2013, the plaintiffs say, the trustees let Ryan Caldwell, one of the two portfolio managers of Ivy Asset Strategy Fund and the Waddell & Reed Asset Strategy Fund, spend approximately $925 million on "a start-up and potentially criminal" professional boxing promotion company. "These purchases had no economic justification, but rather were motivated by Caldwell's personal interest and benefit," the complaint states.The plaintiffs claim Caldwell knew the companies faced hundreds of millions in short-term losses, but pledged financial support from the funds to entrepreneur Alan Haymon, who is not a party to the case.

"This private stock investment violated the stated terms of the Prospectuses for the Funds, which describe an investment strategy that 'primarily focuses on securities issued by large capitalization companies,' that 'can offer a high probability of return or, alternatively, can provide a high degree of relative safety in uncertain times, with Strong cash flow streams: and 'high sustainable cash flow,'" the complaint states. "Investing nearly a billion dollars of private securities in a start-up boxing promotion company, as high-risk a venture as one could imagine, meets none of these criteria."
The plaintiffs say Caldwell's actions were inappropriate because as a fund manager he should have been making objective investment decisions. In June 2014, the plaintiffs say, Caldwell resigned from the funds to join one of Haymon's companies. They question whether he actually resigned, or was fired by the trustees for making the investments, and whether he had a quid pro quo agreement with Haymon's company. "In either case, the trustees have not acted properly," the complaint states.

Haymon's activities have been the subject of several lawsuits recently, according to the complaint. The Courthouse News database shows Haymon as a defendant in four lawsuits since 2013, all involving pro boxing, and another lawsuit in 2005, also involving boxing. An independent association of State Boxing Commissioners asked the Justice Department to investigate Haymon's business practices, the plaintiffs say.They say the defendants kept them in the dark."The Funds made no meaningful disclosure about their investment in this company, or how this investment was different from, or carried risks that were different from, the disclosed strategies in the Prospectuses," the complaint states. "The Funds also did not disclose Caldwell's personal relationship with Haymon or how that relationship influenced the decision to invest in Haymon's company — or how such a relationship might present a conflict of interest."

The plaintiffs say that whether the defendants knew that Caldwell was investing nearly a billion dollars "into a high-risk start-up that was designed to violate antitrust laws" or not, they should have known the investment was well outside the bounds of the funds' investment strategy.Roger Hoadley, a vice president and director of communications for Ivy Investment and Waddell & Reed Financial said in an email that the underlying facts of the new lawsuit are similar to two others that were dismissed last year. He said that while the claims are different, they all relate to a single investment in the company's Asset Strategy Funds that represents less than 1 percent of its holdings.

"The suit includes significant factual errors and language that brings question to its overall merit," Hoadley said in the statement. "Lawsuits such as this often arise when the value of a fund has declined. We are continuing to evaluate the pleadings and case strategy and will respond appropriately. Regardless, our commitment to managing fund investors' money and striving to deliver strong results remains unchanged." Caldwell started a new mutual fund company called Chiron Investment Management, which is a partnership with three former bankers from Goldman Sachs, according to a July 2015 article by The Wall Street Journal. Under Caldwell's watch, The Ivy Asset Strategy Fund delivered average returns of 10 percent over the past decade — third-best among comparable managers, according to the Journal.

Waddell & Reed announced recently that it would lay off 10 percent of its full-time employees, as its first quarter profits this year fell by 44 percent, the Kansas City Star reported.
The plaintiffs seek $925 million in restitution to the funds. They are represented by John Jackson Miller with Swanson Midgley, in Kansas City, Mo. Haymon was named as a defendant in two antitrust complaints in Los Angeles Federal Court in 2015; a 2014 contract complaint in Miami-Dade County; a 2013 summons and complaint in Essex County Superior Court, Newark; and a 2005 contract complaint in Clark County, Las Vegas.

Good post man. This piggybacks on the information I posted months ago. This fund is going to go broke. Just as I predicted. The people know it is going to go broke and it was done with investors money and it is going to be all gone. Now whether or not they can prove in a court of law as to whether or not this was a misuse of investor money is anyone's guess at this point. BUT by these lawsuits coming out and being filed it should be evident to all that this fund will dry up and be broke in no time. If it were making money then the investors would be happy. But it is not, it won't and has no chance to.
For all of the people sticking up for the PBC series and Haymon in this thread, you should feel really stupid.
People would say why would Haymon do this then or how does he come out on top out of this?? He still makes out because he appropriated a salary for himself for running the series. How much? We do not know yet but it could be 25 million, 50 million or even a close to 100 million dollars. Sound crazy? 10% of the fund being appropriated for his salary would not be unprecedented at all. That would come out to 92.5 million dollars.
They pitched this series like the success was going to be for boxing what the Ultimate Fighter was for the UFC. LOL It was junk and good luck with your next investor. You mean to tell me that Bika vs. Stevenson at 4PM on a Saturday afternoon was not big with sponsors or sports fans?? Well how could that possibly be??

[Lancenix]

PBC was always just a B and C in house league of protected patsies - the public wants the best vs the best not a WWF boxing league choreographed with fancy packaging by a con artist - There's a reason why Al H has hid in the shadows all these years - he's a crook who cheated the sport the fans and history with his fraud league of B or C level in house fake fights - GOLDEN RULE: you can't create fraud stars with fraud set ups - the only way to create stars is to pit the best vs the best and who ever wins is the star - gotta earn it - no shortcuts - handpicking patsies for a fraud will never create a new star - NEVER - The failure of PBC is proving this --

Yep.

[Ricky_]

http://www.courthousenews.com/2016/04/2 ... boxing.htm

OLATHE, Kan. (CN) — Kansas-based business trusts let a portfolio manager spend $925 million on a "potentially criminal" start-up pro boxing company rather than the stable investments they advertised, shareholders claim in court.

Saket Kapor and two others sued Ivy Investment Management Co. and Waddell & Reed Investment Co. on April 18 in Johnson County Court. They also sued 16 directors of the trusts — but not Ryan Caldwell, the portfolio manager they accuse of spending the money for his own intended benefit. Ivy Investment and Waddell & Reed are both Delaware business trusts based in Overland Park, Kan. Kapor, Peter Brockett and Hieu Phan filed the lawsuit as a shareholder derivative complaint.Beginning in April 2013, the plaintiffs say, the trustees let Ryan Caldwell, one of the two portfolio managers of Ivy Asset Strategy Fund and the Waddell & Reed Asset Strategy Fund, spend approximately $925 million on "a start-up and potentially criminal" professional boxing promotion company. "These purchases had no economic justification, but rather were motivated by Caldwell's personal interest and benefit," the complaint states.The plaintiffs claim Caldwell knew the companies faced hundreds of millions in short-term losses, but pledged financial support from the funds to entrepreneur Alan Haymon, who is not a party to the case.

"This private stock investment violated the stated terms of the Prospectuses for the Funds, which describe an investment strategy that 'primarily focuses on securities issued by large capitalization companies,' that 'can offer a high probability of return or, alternatively, can provide a high degree of relative safety in uncertain times, with Strong cash flow streams: and 'high sustainable cash flow,'" the complaint states. "Investing nearly a billion dollars of private securities in a start-up boxing promotion company, as high-risk a venture as one could imagine, meets none of these criteria."
The plaintiffs say Caldwell's actions were inappropriate because as a fund manager he should have been making objective investment decisions. In June 2014, the plaintiffs say, Caldwell resigned from the funds to join one of Haymon's companies. They question whether he actually resigned, or was fired by the trustees for making the investments, and whether he had a quid pro quo agreement with Haymon's company. "In either case, the trustees have not acted properly," the complaint states.

Haymon's activities have been the subject of several lawsuits recently, according to the complaint. The Courthouse News database shows Haymon as a defendant in four lawsuits since 2013, all involving pro boxing, and another lawsuit in 2005, also involving boxing. An independent association of State Boxing Commissioners asked the Justice Department to investigate Haymon's business practices, the plaintiffs say.They say the defendants kept them in the dark."The Funds made no meaningful disclosure about their investment in this company, or how this investment was different from, or carried risks that were different from, the disclosed strategies in the Prospectuses," the complaint states. "The Funds also did not disclose Caldwell's personal relationship with Haymon or how that relationship influenced the decision to invest in Haymon's company — or how such a relationship might present a conflict of interest."

The plaintiffs say that whether the defendants knew that Caldwell was investing nearly a billion dollars "into a high-risk start-up that was designed to violate antitrust laws" or not, they should have known the investment was well outside the bounds of the funds' investment strategy.Roger Hoadley, a vice president and director of communications for Ivy Investment and Waddell & Reed Financial said in an email that the underlying facts of the new lawsuit are similar to two others that were dismissed last year. He said that while the claims are different, they all relate to a single investment in the company's Asset Strategy Funds that represents less than 1 percent of its holdings.

"The suit includes significant factual errors and language that brings question to its overall merit," Hoadley said in the statement. "Lawsuits such as this often arise when the value of a fund has declined. We are continuing to evaluate the pleadings and case strategy and will respond appropriately. Regardless, our commitment to managing fund investors' money and striving to deliver strong results remains unchanged." Caldwell started a new mutual fund company called Chiron Investment Management, which is a partnership with three former bankers from Goldman Sachs, according to a July 2015 article by The Wall Street Journal. Under Caldwell's watch, The Ivy Asset Strategy Fund delivered average returns of 10 percent over the past decade — third-best among comparable managers, according to the Journal.

Waddell & Reed announced recently that it would lay off 10 percent of its full-time employees, as its first quarter profits this year fell by 44 percent, the Kansas City Star reported.
The plaintiffs seek $925 million in restitution to the funds. They are represented by John Jackson Miller with Swanson Midgley, in Kansas City, Mo. Haymon was named as a defendant in two antitrust complaints in Los Angeles Federal Court in 2015; a 2014 contract complaint in Miami-Dade County; a 2013 summons and complaint in Essex County Superior Court, Newark; and a 2005 contract complaint in Clark County, Las Vegas.

What a piece of shit Haymon really is. He's ringfenced some of boxing's buggest stars like Stevenson and Garcia. Flushed their careers down the shitter with awful matchmaking on the horribly produced "pbc" and he's essentially obtained stolen funds to finance it through a crooked hedgefund manager.

No wonder he likes to avoid the public eye, he must be the shadiest promoter/manager in boxing history. At least Don King made it clear he was a criminal.