Nerium SkinCare and Nerium Biotechnology, partners of Nerium International, accuse CEO Jeff Olson from multi-million dollar fraud and ask in a lawsuit, inspection of the books.
From the law suit:
Nerium (Skincare) has recently obtained concrete evidence of numerous inappropriate transactions—totaling millions of dollars—that were directed or overseen by Jeff Olson, the Company’s sole Manager.
This evidence leaves no room for doubt that Olson is guilty of financial impropriety; now the question is the scope and extent. Nor is there any room for dispute that the Company previously underpaid Nerium by millions of dollars in equity and bonus distributions.
After Nerium filed its application to compel records inspection and served discovery regarding the Company’s equity allocations, the Company was finally forced to admit that its prior equity allocations were wrong. Yet it refuses to provide Nerium