MLM News Update… Zurvita and AmeriPlan settle their differences and stop what could have been a nasty MLM Legal Battle.
The following can be found in its entirety at BusinessWeek.com
Key developments for The Amacore Group, Inc. (ACGI)
The Amacore Group Inc. Enters Mutual Compromise Settlement Agreement and General Release of Claims with AmeriPlan, Zurvita, TransMark Financial Services Inc. and Mark Jarvis
07/14/2009
On July 9, 2009, The Amacore Group Inc. entered into a mutual compromise settlement agreement and general release of claims with AmeriPlan, Zurvita Inc., TransMark Financial Services Inc. and Mark Jarvis.
Pursuant to the settlement agreement and in consideration for the dismissal of all claims and counterclaims of the action, the company and Zurvita agreed to pay AmeriPlan the sum of $1,150,000.
In addition, Zurvita agreed to issue a promissory note to AmeriPlan in the principal amount of $600,000 bearing interest at a rate of 7.5% per annum, payable in 24 monthly installments of $26,999.76 beginning on July 1, 2009 and each month thereafter until paid in full, with the first payment being made on July 9, 2009.
In connection with the issuance of the note, the company entered into a guaranty agreement, pursuant to which the company guaranteed the payment of the note by Zurvita.
Troy’s Truth: This is truly the sign of Servant Leaders putting what is best for their Distributors ahead of a bitter and nasty MLM Legal Battle which in the end would hurt both companies and their field force.
My hat is off to Mark Jarvis and his corporate team who worked hard over the last few months to bring this to an end, so they could get on at building Zurvita.
Never Give Up,
Troy, you hit the nail on the head. AmeriPlan is a good company, so is Zurvita (my obvious bias here). Different people simply want different things, and that is what it came down to.
I’m glad to see things settled. I hope it calms down the rumors and trash talk (I’ve been the target of it in defending people I work with who made the jump). But we all wish the force at AmeriPlan USA the best. I talked to one EC who was with AmeriPlan and he still, through all the bad mouthing he took, credits that company and its founders with changing his life forever.
Now we all must move on to whatever we do, focus on our company and not others, and build a bright future!
.-= Zurvita´s last blog ..Zurvita – Tapping Into The Telecom World With Zurvita Mobile And Zurvita’s VoIP Product Offering =-.
Zurvita,
You are so right! Both companies are great, and built for a specific person. I have great friends at all levels in both companies.
There will always be people in all companies who are not the most professional. We pray for them and wish them the best. However, after years of studying the great leaders in our profesison, those who make it to the top and STAY THERE, are those who are confident in who they are and are willing to take the lead to help their team members succeed also.
Never Give Up,
Troy