Maybe you remember the story?
Now former SpeakerCraft owner and president Jeremy Burkhardt says SpeakerCraft and parent Nortek Inc., are trying to enforce an illegal non-compete—and he says Nortek owes him $1 million.
The $1 million was allegedly promised to him by former Nortek chairman Richard Bready who asked Burkhardt to reinvest in Nortek after SpeakerCraft was acquired. Burkhardt lost that investment when Nortek declared bankruptcy in 2009 but alleges Bready agreed to compensate him for the loss. Nortek, says Burkhardt, “repudiated” that agreement after Bready retired in 2011.