Endeavor Accused in Lawsuit of Stealing Marketing Concepts Used in Agency’s $10 Billion IPO

thewrap.com:

Media and technology sector consultant David Carde has filed suit against Endeavor for “breach of implied in fact contract” and “unjust enrichment”, alleging that the powerful talent, sports and events company stole his detailed analysis that led to the company’s successful $10.3 billion IPO in the spring of 2021.

In the suit, filed Thursday in Los Angeles County Superior Court, Carde said that he was not given credit or payment for an analysis that he sent to Endeavor CEO Ari Emanuel in 2019 after Endeavor’s failed IPO, which the consultant believes was crucial to the success of the company’s successful IPO effort.

Endeavor did not immediately respond to a request for comment from TheWrap.The suit said that after the company’s plans for the 2019 IPO effort became public, Carde “closely followed Endeavor’s communication strategy and other related activities and the market’s reaction thereto.

Mr. Carde determined that Endeavor failed to understand the actual worth of its assets and, more importantly, was failing to effectively communicate its value to the marketplace.”According to the suit, Carde “employed an unconventional expression of “network effects” as a means of unlocking Endeavor’s true value and of effectively communicating that value to the market.