Pogo Stick Maker Wants Financing Company to Pay $20M After Bailing Out Client
Represented by Manhattan firm, Oved & Oved, Flybar Inc. claimed it lost $20 million rescuing the sports company “from the brink of collapse,” only for a financing firm to go back on an alleged sales deal.
January 23, 2025 at 06:04 PM
2 minute read
A pogo stick company accused a New York financing firm of tricking it into spending millions to bail out a distressed Costco sports equipment distributor, under the false promises of later obtaining the firm’s interests in the distributor.
Flybar Inc., represented by Manhattan firm, Oved & Oved, claimed that it deployed its financial, operational and reputational resources to rescue Surf 9 LLC “from the brink of collapse,” after Express Trade Capital Inc. agreed to sell its controlling senior secured interests in Surf 9.
But Express Capital went back on that deal and took advantage of the “incredible value that Flybar provided” to sell its interests to another buyer instead, Flybar claimed.
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