TNA News: Details of Billy Corgan's lawsuit against TNA revealed
The saga's details have been revealed.
Ryan Satin of Pro Wrestling Sheet managed to get hold of the unsealed documents of Billy Corgan’s lawsuit against TNA. The lawsuit was filed with the claim that recently appointed TNA President, Corgan, stopped the company from shutting down multiple times, by bailing them out, over the past few months.
The document states:
“Impact Ventures and Mrs. Salinas (Dixie) also entered into an equity pledge agreement with [the] plaintiff whereby Mrs Salinas pledged 100% of her equity interest in Impact Ventures to plaintiff as security for Impact Ventures’ performance of its obligations.”
Corgan’s lawyer, Chris Terry, insists that Dixie denied that there were any discussions with WWE to Corgan, while reportedly telling the locker room an entirely different story in a company-wide meeting.
He also claimed that he was left in the dark about the Fight Network funding who offered to pay back the money earned, to Corgan.
Terry said, “They have failed to keep [the] plaintiff apprised of matters of great significance to the company; they have routinely misled plaintiff with information necessary to discharge his duties as President to manage the day-to-day operations of the business; and they have regularly interfered with, subverted, or ignored [the] plaintiff’s authority to manage the affairs of the company.”
Corgan wants TNA to pay him compensatory damages for not keeping their end of the bargain, accusing them of breaching the contract as well. Chris Terry even attached a copy of multiple emails showing the company officials (including Dixie Carter) to be very unresponsive.
Here are images of the E-mails:
The content of the e-mails also includes Corgan requesting the board of managers to removing Dixie Carter, Serg Salinas, and Dean Broadhead from the board. The situation just seems to be getting more and more chaotic for TNA.
Many are under the belief that Corgan should accept the Fight Network’s offer to pay off his debts so that he can get out of the situation in TNA. However, it is believed that the TNA locker room desires Billy Corgan to be in power to take the company forward.
However, the backstage tensions seem to be out of control, and it is hard not to empathise with Corgan who appears to be kept in the dark about a lot of things.
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