MLB Player Says Fund Made 'Unconscionable' Loan Deal
Law360 (April 13, 2018, 8:50 PM EDT) -- Cleveland Indians catcher Francisco Mejia, in a Delaware federal court suit claiming an ex-Major Leaguer’s investment fund induced him to sign away more than 10 percent of his lifetime earnings in exchange for a $360,000 loan, was hit with a counterclaim Thursday claiming his suit breached a confidentiality clause in the agreement.
In a suit filed in February, Mejia claimed Big League Advance Fund I LP — founded by former Philadelphia Phillies pitcher Michael Schwimer — induced him to enter into an “unconscionable” contract requiring him to pay 10 percent of his lifetime MLB earnings in exchange for $360,000 advanced to...
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