With spring football practice underway, distractions are the last thing that the Texas Tech Football program needs right now as it tries to rebuild itself following a 5-7 season.
But distractions is what Tech head coach Tommy Tuberville is dealing with right now, as a lawsuit that was filed against Tuberville on Friday in Alabama.
On Friday a formal lawsuit was filed in the United States District Court for the Middle District of Alabama Eastern Division against Tuberville, John David Stroud and eight financial firms.
There were seven plaintiffs listed in the 32-page lawsuit and the total amount of the damages came to approximately $1,760,700, according to the lawsuit.
The lawyer that is representing the plaintiffs in this case was contacted on Tuesday by RaiderPower.com, but has yet to return the call.
According to the lawsuit Stroud had given business cards to one ore more of the plaintiffs, which referred to him as the President and Portfolio Manager of "T.S. Capital", and Tuberville had also given out business cards, which referred to him as Managing Partner of T.S. Capital.
Also according to the 32-page lawsuit Tuberville and Stroud "employed devices, schemes, and artifices to defraud Plaintiffs" and the lawsuit went on as there were "untrue statements of material facts and omitted to state other material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, and engaged in acts, practices or courses of business which operated as a fraud and deceit upon Plaintiffs."
On Tuesday when the news of the lawsuit broke, Tuberville's attorney Victor Hayslip released a statement on behalf of Tuberville.
"Coach Tuberville was surprised
to learn of the pending lawsuit involving TS Capital Partners, LLC and he
categorically denies any wrongdoing which has been attributed to him in this
suit," Hayslip said in the statement. "He has never
even met or spoken with most of the plaintiffs and he is acquainted minimally
with the few other plaintiffs only because they were employees at TS
Capital Partners, LLC. Coach Tuberville absolutely never solicited
any investment from any of these or other individuals."
It was also noted in the statement from Hayslip that Tuberville himself has made personal investments as well and has never received any return from his investments.
This story will continue to develop and as it does we will continue to update
it here on RaiderPower.com.