He allegedly asked Nike lawyers if they'd ever 'held the balls of the client in your hand where you could take five to six billion dollars market cap off of them.'
New York prosecutors on Monday accused attorney Michael Avenatti of attempting to extort Nike for over $20 million.
Attorney Michael Avenatti allegedly tried to extort Nike for over $20 million, and New York prosecutors laid out the details inAvenatti threatened to"use his ability to garner publicity to inflict substantial financial & reputational harm on the company if his demands were not met," according to the documents.
Avenatti's contacts with lawyers representing Nike began around March 19, according to the New York prosecutors, and said he had a client with"evidence that one or more Nike employees had authorized and funded payments to the families of top high school basketball players and/or their families and attempted to conceal those payments, similar to conduct involving a rival company that had recently been the subject of a criminal prosecution in this District.
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