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2402:3a80:10c2:8a92:9191:150f:1021:1a29 (talk) →Controversies: case by Insurance Companies |
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==History== |
==History== |
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Brightstar was founded by [[Marcelo Claure]] in 1997.<ref>{{Cite web|last=Gale|first=Kevin|date=18 October 2013|title=How Brightstar CEO Marcelo Claure turned a freebie into a $1.26 billion deal|url=https://www.bizjournals.com/southflorida/news/2013/10/18/how-brightstar-ceo-marcelo-claure.html|url-status=live|archive-url=|archive-date=|access-date=|website=South Florida Business Journal}}</ref> |
Brightstar was founded by [[Marcelo Claure]] in 1997.<ref>{{Cite web|last=Gale|first=Kevin|date=18 October 2013|title=How Brightstar CEO Marcelo Claure turned a freebie into a $1.26 billion deal|url=https://www.bizjournals.com/southflorida/news/2013/10/18/how-brightstar-ceo-marcelo-claure.html|url-status=live|archive-url=|archive-date=|access-date=|website=South Florida Business Journal}}</ref> |
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In September 1998, less than a year since the founding of the company, Brightstar was acquired by [[CHS Electronics]],<ref>{{cite news |last1=BRIEFING |first1=BUSINESS |title=CHS BUYS BRIGHTSTAR |url=https://www.sun-sentinel.com/news/fl-xpm-1998-09-24-9809240143-story.html |access-date=10 November 2021 |work=Sun-Sentinel.com}}</ref> a telecommunications company founded by Venezuelan entrepreneur [[Claudio Osorio]] in 1994, who was accused in 1999 of securities fraud and misleading investors<ref>{{cite news |last1=Frates |first1=Chris |title=Overlooked red flags thrust Jeb Bush into scandal - CNNPolitics |url=https://edition.cnn.com/2015/03/30/politics/election-2016-jeb-bush-business/ |access-date=10 November 2021 |work=CNN}}</ref> and is currently serving a 12.5 year jail sentence over $50 million investment fraud scheme in which he conspired to steal $40 million from 10 investors and an additional $10 million from a federal government program.<ref>{{cite news |title=Miami Businessman helf |url=http://www.miamiherald.com/news/local/community/miami-dade/article1955164.html |access-date=10 November 2021 |publisher=Miamiherald}}</ref><ref>{{cite news |last1=Frates |first1=By Chris |title=Jeb Bush missed red flags in Florida business scandal {{!}} CNN Politics |url=http://www.cnn.com/2015/03/30/politics/election-2016-jeb-bush-business/ |access-date=10 November 2021 |work=CNN |date=30 March 2015 |language=en}}</ref> In October 1999, CHS Electronics sold back Brightstar to original owners.<ref>{{cite web |title=CHS ELECTRONICS INC |url=https://www.sec.gov/Archives/edgar/data/924374/000095017099001863/0000950170-99-001863.txt |website=Sec.gov |access-date=10 November 2021}}</ref> |
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Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance service provider, from Mainsail Partners in April, 2011.<ref>{{Cite web|last=Partners|first=Mainsail|date=2011-04-05|title=Brightstar Corporation Acquires eSecuritel|url=https://mainsailpartners.com/2011/04/05/brightstar-corporation-announces-agreement-to-acquire-esecuritel/|access-date=2020-11-20|website=Mainsail|language=en-US}}</ref> |
Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance service provider, from Mainsail Partners in April, 2011.<ref>{{Cite web|last=Partners|first=Mainsail|date=2011-04-05|title=Brightstar Corporation Acquires eSecuritel|url=https://mainsailpartners.com/2011/04/05/brightstar-corporation-announces-agreement-to-acquire-esecuritel/|access-date=2020-11-20|website=Mainsail|language=en-US}}</ref> |
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The company's headquarters are located in [[Dallas, Texas]].<ref name=":0" /> |
The company's headquarters are located in [[Dallas, Texas]].<ref name=":0" /> |
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== Failed IPO Filings== |
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Brightstar applied twice to for the initial public offering, both times withdrawing their offer. |
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On 9 August 2004, Brightstar filed for IPO with the U.S. Securities and Exchange Commissionto raise up to $115 million that will be used to expand in Latin America and the United States.<ref>{{cite news |title=Brightstar plans $115M IPO |url=https://www.rcrwireless.com/20040810/archived-articles/brightstar-plans-115m-ipo |access-date=10 November 2021 |work=RCR Wireless News |date=30 November 1999}}</ref> On 11 October 2004, Brightstar withdrew IPO citing “market conditions and certain other factors.<ref>{{cite news |title=Brightstar withdraws IPO |url=https://www.rcrwireless.com/20041011/archived-articles/brightstar-withdraws-ipo |access-date=10 November 2021 |work=RCR Wireless News |date=30 November 1999}}</ref> |
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On 14 April 2011, Brightstar filed for another IPO to raise $300 million<ref>{{cite news |title=Gadget Distributor Brightstar Plans $300 Million IPO |url=https://ih.advfn.com/stock-market/NYSE/best-buy-BBY/stock-news/47304783/gadget-distributor-brightstar-plans-300-million-i |access-date=10 November 2021 |work=Investors Hub}}</ref> before withdrawing its offer again on 26 April 2012 without providing specific reasons for not proceeding with the IPO.<ref>{{cite news |last1=Warner |first1=Melodie |title=Brightstar Corp pulls plans for IPO |url=https://www.marketwatch.com/story/brightstar-corp-pulls-plans-for-ipo-2012-04-26 |access-date=10 November 2021 |work=MarketWatch |language=EN-US}}</ref> |
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==Controversies== |
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===‘Just-this-side-of-shady’ Phone Re-selling Scheme=== |
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In the early days of Brightstar, Claure and his business partner David Peterson exploited lower cell phone prices in Canada to boost their profits in the US by convincing Bell Canada to purchase additional phones from Motorola, with Brightstar then purchasing the surplus phones and reselling them on the US Market at a higher price.<ref>{{cite news |title=Marcelo’s moment: Saving Sprint is biggest challenge of Claure’s already impressive life |url=https://www.kansascity.com/news/business/technology/article31927326.html |access-date=10 November 2021 |publisher=[[The Kansas City Star]]}}</ref> |
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The scheme was described by the Inc. Magazine at the time as “just-this-side-of-shady scheme” with Claure saying this made “Motorola miserable.” Several former Bell Canada and Motorola Canada executives later joined Brightstar.<ref>{{cite news |title=Inc.com- Closing the Deal |url=http://web.archive.org/web/20050306074537/http://www.inc.com/magazine/20040301/closingthedeal.html |access-date=10 November 2021 |work=web.archive.org |date=6 March 2005}}</ref> |
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=== CHS Electronics’ Ownership of Brightstar === |
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In September 1998, less than a year since the founding of the company, Brightstar was acquired by CHS Electronics,<ref>{{cite news |last1=BRIEFING |first1=BUSINESS |title=CHS BUYS BRIGHTSTAR |url=https://www.sun-sentinel.com/news/fl-xpm-1998-09-24-9809240143-story.html |access-date=11 November 2021 |work=Sun-Sentinel.com}}</ref> a telecommunications company owned by Osorio who in 1999 was sued by CHS Electronics’ investors for misleading investors and later settled the suit for nearly $12 million.<ref>{{cite news |last1=Frates |first1=Chris |title=Overlooked red flags thrust Jeb Bush into scandal - CNNPolitics |url=https://edition.cnn.com/2015/03/30/politics/election-2016-jeb-bush-business/ |access-date=11 November 2021 |work=CNN}}</ref> |
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CHS Electronics’acquisition of Brightstar occurred at the time the company was facing accusations of fraud and misleading investors, with company insiders selling their holdings in the company. On 30 November 1999, a Class Action lawsuit was filed on behalf of shareholders of CHS Electronics against CHS Electronics, Osorio as CEO, and other company executives for misleading investors and fraud.<ref>{{cite news |title=LegalMetric - Litigation Analysis: Florida Southern District Court 9:99cv08186 |url=https://web.archive.org/web/20101014101312/http://www.legalmetric.com/cases/securities/flsd/flsd_999cv08186.html#s78 |access-date=11 November 2021 |work=web.archive.org |date=14 October 2010}}</ref><ref>{{cite news |title=CHS HAS $45 MILLION PROBLEM |url=http://articles.sun-sentinel.com/1999-03-23/business/9903220736_1_miami-based-chs-electronics-european-headquarters-volume-sales |access-date=11 November 2021 |work=Sun Sentinel}}</ref> This includes making repeated false statements through press releases and SEC disclosures about financial performance, inventory and receivables that led to substantial increase in CHS Electronics stock price. |
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Just over one year after acquiring Brightstar, in December 1999, CHS Electronics conveyed its interest in Brightstar to the original owners in exchange for a release of its obligations to pay the balance of the purchase price of approximately USD 1.3 million.<ref>{{cite web |title=CHS ELECTRONICS INC |url=https://www.sec.gov/Archives/edgar/data/924374/000095017099001863/0000950170-99-001863.txt |publisher=Sec.gov |access-date=11 November 2021}}</ref> |
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===Brightstar’s ‘Back Door Deal’ With Australian State Telecommunications Company=== |
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In March 2006, Brightstar was awarded a contract to be then-government-owned telecommunications company [[Telstra]]’s mobile supplier in March 2006, an agreement that was criticized as a “back door deal” in the telecommunications media outlets.<ref>{{cite news |title=Roadhound MD attacks Telstra’s Brightstar deal |url=https://www.itnews.com.au/news/roadhound-md-attacks-telstras-brightstar-deal-35914 |access-date=11 November 2021 |work=iTnews}}</ref> |
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The contract was authorized by Claure’s close associate and mentor [[Sol Trujillo|Dennis Trujillo]] who was the CEO of Telstra at the time.<ref>{{cite news |last1=Knutson |first1=Ryan |title=Sprint Spent Heavily for Advice Later Brushed Aside |url=https://www.wsj.com/articles/sprint-spent-heavily-for-advice-later-brushed-aside-1450820455 |access-date=11 November 2021 |work=Wall Street Journal |date=24 December 2015}}</ref> Leaked details of the contract showed that Telstra was set to pay three times industry rates for phones, raising questions over the way the contract was given to Brightstar.<ref name="ta">{{cite news |title=Telstra to end handset supply agreement with Brightstar |url=https://www.theaustralian.com.au/business/technology/telstra-to-end-handset-supply-agreement-with-brightstar/news-story/48d917d2ebad0d67d1add8c1aaa3608e |access-date=11 November 2021 |work=The Australian |language=en-AU}}</ref> |
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Between January 2008 and March 2010, Claure and Brightstar were engaged in a legal dispute with Australian regulatory authorities to avoid avoid filing its financial records with the Australian Securities and Investments Commission, with Brightstar pursuing “every legal avenue to shield its books from scrutiny" in relation to Australian disclosure requirements” in an effort to avoid disclosing profits made from the contract with Telstra.<ref name="ta" /> |
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In November 2010, just a year after Trujillo’s departure from the company, Telstra announced the end of the partnership with Brightstar.<ref>{{cite news |last1=LeMay |first1=Renai |title=Telstra slashes Brightstar deal |url=https://www.zdnet.com/article/telstra-slashes-brightstar-deal/ |access-date=11 November 2021 |work=ZDNet |language=en}}</ref> |
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===Sued for Fraud in 2013 by Insurance Companies for missing inventory in Germany=== |
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In December 2013, Brightstar’s insurer Starr Indemnity and Liability Company filed a lawsuit before the US District Court for the Southern District of New York against Brightstar alleging that Brightstar was misrepresenting loss of goods.<ref name="jl">{{cite news |title=Starr Indemnity & Liability Company v. Brightstar Corp. et al, No. 1:2013cv08580 - Document 176 (S.D.N.Y. 2019) |url=https://law.justia.com/cases/federal/district-courts/new-york/nysdce/1:2013cv08580/420788/176/ |access-date=11 November 2021 |work=Justia Law |language=en}}</ref> |
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According to the complaint, on 30 October 2013, Brightstar visited the GetGoods warehouse in [[Germany]] to audit their stock and reported the correct number of goods in the warehouse.On 7 November 2013, Brightstar reversed its audit result and claimed that its stock was now missingand instructed Starr to compensate for missing stock.The insurer denied Brightstar’s claim on the grounds that the stock was not missing and was instead delivered to a customer with Brightstar’s knowledge, a claim Brightstar denied. Starr later sued Brightstar forattemptinginsurance fraud, with the court ruling in favour of Starr in September 2019.<ref name="jl" /> |
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In July 2014, a consortium of Underwriters at Lloyd’s, London also filed a lawsuit against Brightstar and its German subsidiary following Starr’s lawsuit in the United States.<ref>{{cite web |title=Certain Underwriters At Lloyd's Of London v. Brightstar Corp. et al |url=https://www.law360.com/cases/53c93faf3ec3f128fe000001 |website=www.law360.com |access-date=11 November 2021 |language=en}}</ref> According to the complaint, in December 2013, the same month Brightstar was sued by Starr, Brightstar sought to increase its insurance coverage of the products held in Germany from $40 million to $75 million, but the Underwriters of Lloyds declined to increase the coverage.The claim was voluntarily dismissed in January 2018. |
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===Misapproriating Confidental Information=== |
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In May 2019, Subscriber Holdings LLC filed a lawsuit against Brightstar and four of its subsidiaries, as well as Sprint Corporation, Mobile Leasing Solutions LLC, and SoftBank Group Corp, for damages resulting from the misappropriation of Subscriber’s trade and other protected confidential information.<ref>{{cite news |title=Subscriber Holdings, LLC v. Brightstar Corp. et al (1:19-cv-01991), Georgia Northern District Court |url=https://www.pacermonitor.com/public/case/28072485/Subscriber_Holdings,_LLC_v_Brightstar_Corp_et_al |access-date=10 November 2021 |work=www.pacermonitor.com}}</ref> |
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===Brightstar’s Joint Venture with Alleged Drug Trafficker=== |
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In May 2007, Brightstar entered into partnership with WSA Distributing Inc, a company owned by businessman Carlos Becerra,<ref>{{cite news |title=Brightstar Acquires Majority Interest in Consumer Electronics Distributor, WSA Mexico |url=https://news.thomasnet.com/companystory/brightstar-acquires-majority-interest-in-consumer-electronics-distributor-wsa-mexico-520854 |access-date=11 November 2021 |work=news.thomasnet.com}}</ref> Claure’s close associate who was investigated and arrested in 1996 for illegal firearm possession, phone cloning, money laundering,<ref>{{cite news |title=Club owner had cash-stuffed wetsuit |url=https://www.sandiegouniontribune.com/news/watchdog/sdut-political-money-nightclub-owner-cash-wetsuit-2014jan27-story.html |access-date=11 November 2021 |work=San Diego Union-Tribune |date=28 January 2014}}</ref> and cited by the DEA for cocaine trafficking.<ref>Annex G: Southern District of California 1997 criminal case against Carlos Becerra and the money seized from him in Chula Vista, case number 3:97-cv-01876-K-LSP.</ref> |
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In 2009, Claure and Brightstar sued Becerra and his company after the relationship between Becerra and Claure soured, accusing Becerra of misrepresenting the financial health of their venture in Mexico and misleading Brightstar into injecting additional loans into the company in addition to providing a credit of $30 million to allow Brightstar Retail to purchase inventory.<ref>{{cite web |title=Brightstar Corp. v. WSA Distributing, Inc. et al, 1:09-cv-20795-PAS (S. D. Fla, 2009) ; |url=https://www.govinfo.gov/app/details/USCOURTS-flsd-1_09-cv-20795 |website=www.govinfo.gov |access-date=11 November 2021 |language=en}}</ref> |
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The complaint claims that Claure and Becerra maintained a close, personal relationship, and that Claure maintained a high degree of trust in Becerra, which he later exploited by making “material misrepresentation to [Claure] and Brightstar.” The complaint further notes that Becerra misrepresented the growth possibilities that would arise from a joint venture between Brightstar and WSA Distributing by inflating the financial health of WSA Mexico.<ref> Brightstar Corp. v. WSA Distributing, Inc. et al, 1:09-cv-20795-PAS (S. D. Fla, 2009) (Exhibit 11, 11A – docket cover sheet, Complaint)</ref> |
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The parties reached a confidential settlement in June 2010. |
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==References== |
==References== |
Revision as of 06:56, 11 November 2021
Company type | Private |
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Industry | Wireless telecommunications |
Founded | 1997 |
Headquarters | Dallas, Texas, United States |
Key people | Rod Millar, CEO |
Products | Device and Accessories Distribution, Logistics, Supply Chain, Device Buyback and Trade-in, Handset Protection and Insurance, Multi-channel Retail and Mobile Financing Services, and Mobile Digital Solutions |
Revenue | US$10 billion+ (2014) |
Number of employees | 4,000 |
Parent | SoftBank Group |
Website | www |
Brightstar Corp. is an American privately held corporation founded in 1997. It provides global wireless distribution and services, serving mobile device manufacturers, wireless operators and retailers.[1] Brightstar offers device and accessories distribution, handset protection and insurance, and mobile digital products. In 2019, Brightstar was named by Forbes as one of "America's Best Midsize Employers".[2]
History
Brightstar was founded by Marcelo Claure in 1997.[3]
In September 1998, less than a year since the founding of the company, Brightstar was acquired by CHS Electronics,[4] a telecommunications company founded by Venezuelan entrepreneur Claudio Osorio in 1994, who was accused in 1999 of securities fraud and misleading investors[5] and is currently serving a 12.5 year jail sentence over $50 million investment fraud scheme in which he conspired to steal $40 million from 10 investors and an additional $10 million from a federal government program.[6][7] In October 1999, CHS Electronics sold back Brightstar to original owners.[8]
Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance service provider, from Mainsail Partners in April, 2011.[9]
In October 2013, Japanese SoftBank paid $1.26 billion for a 57% stake in Brightstar.[10]
In February 2014, Brightstar Corp. completed its acquisition of 20:20 Mobile, a European mobile provider.[11]
In July 2014, Brightstar Corp. and Bharti Enterprises announced that they entered into an agreement to have Brightstar acquire a majority stake in Beetel Teletech, a Bharti company.[12]
In February 2015, Jaymin Patel was appointed CEO of the company, replacing Claure.[13]
In June 2018, Brightstar acquired Next Wireless Group, an online seller of used smartphones.[14] In August 2018, Jaymin Patel resigned as CEO of the company.[13] Reza Taleghani, Brightstar's CFO became interim CEO of the company.[13] As of June 2019, Rod Millar serves as CEO of the company.[15]
In November 2019, Brightstar acquired Risk Insure which will enable Brightstar "to broaden its portfolio in the wireless industry."[16]
In April 2020, the company acquired WeFix.[17] In September, SoftBank sold the company to Brightstar Capital Partners for an undisclosed amount.[18]
In May 2021, the company left the Swedish market due to a “unfair and discriminatory treatment” by the Swedish Tax Agency. The Swedish tax authority have made a claim of SEK 295m (USD $35m) for outstanding VAT payments.[19][20]
In September 2021 the company announced it was rebranding to reflect a new services direction. Under the new name “Likewize,” the company is focusing on its Protect, Repair, Renew and Support capabilities, showcasing its move to provide a range of tech services, in-store and at-home repair, recycling and support. [21]
The company's headquarters are located in Dallas, Texas.[13]
Failed IPO Filings
Brightstar applied twice to for the initial public offering, both times withdrawing their offer.
On 9 August 2004, Brightstar filed for IPO with the U.S. Securities and Exchange Commissionto raise up to $115 million that will be used to expand in Latin America and the United States.[22] On 11 October 2004, Brightstar withdrew IPO citing “market conditions and certain other factors.[23]
On 14 April 2011, Brightstar filed for another IPO to raise $300 million[24] before withdrawing its offer again on 26 April 2012 without providing specific reasons for not proceeding with the IPO.[25]
Controversies
‘Just-this-side-of-shady’ Phone Re-selling Scheme
In the early days of Brightstar, Claure and his business partner David Peterson exploited lower cell phone prices in Canada to boost their profits in the US by convincing Bell Canada to purchase additional phones from Motorola, with Brightstar then purchasing the surplus phones and reselling them on the US Market at a higher price.[26]
The scheme was described by the Inc. Magazine at the time as “just-this-side-of-shady scheme” with Claure saying this made “Motorola miserable.” Several former Bell Canada and Motorola Canada executives later joined Brightstar.[27]
CHS Electronics’ Ownership of Brightstar
In September 1998, less than a year since the founding of the company, Brightstar was acquired by CHS Electronics,[28] a telecommunications company owned by Osorio who in 1999 was sued by CHS Electronics’ investors for misleading investors and later settled the suit for nearly $12 million.[29]
CHS Electronics’acquisition of Brightstar occurred at the time the company was facing accusations of fraud and misleading investors, with company insiders selling their holdings in the company. On 30 November 1999, a Class Action lawsuit was filed on behalf of shareholders of CHS Electronics against CHS Electronics, Osorio as CEO, and other company executives for misleading investors and fraud.[30][31] This includes making repeated false statements through press releases and SEC disclosures about financial performance, inventory and receivables that led to substantial increase in CHS Electronics stock price.
Just over one year after acquiring Brightstar, in December 1999, CHS Electronics conveyed its interest in Brightstar to the original owners in exchange for a release of its obligations to pay the balance of the purchase price of approximately USD 1.3 million.[32]
Brightstar’s ‘Back Door Deal’ With Australian State Telecommunications Company
In March 2006, Brightstar was awarded a contract to be then-government-owned telecommunications company Telstra’s mobile supplier in March 2006, an agreement that was criticized as a “back door deal” in the telecommunications media outlets.[33]
The contract was authorized by Claure’s close associate and mentor Dennis Trujillo who was the CEO of Telstra at the time.[34] Leaked details of the contract showed that Telstra was set to pay three times industry rates for phones, raising questions over the way the contract was given to Brightstar.[35]
Between January 2008 and March 2010, Claure and Brightstar were engaged in a legal dispute with Australian regulatory authorities to avoid avoid filing its financial records with the Australian Securities and Investments Commission, with Brightstar pursuing “every legal avenue to shield its books from scrutiny" in relation to Australian disclosure requirements” in an effort to avoid disclosing profits made from the contract with Telstra.[35]
In November 2010, just a year after Trujillo’s departure from the company, Telstra announced the end of the partnership with Brightstar.[36]
Sued for Fraud in 2013 by Insurance Companies for missing inventory in Germany
In December 2013, Brightstar’s insurer Starr Indemnity and Liability Company filed a lawsuit before the US District Court for the Southern District of New York against Brightstar alleging that Brightstar was misrepresenting loss of goods.[37]
According to the complaint, on 30 October 2013, Brightstar visited the GetGoods warehouse in Germany to audit their stock and reported the correct number of goods in the warehouse.On 7 November 2013, Brightstar reversed its audit result and claimed that its stock was now missingand instructed Starr to compensate for missing stock.The insurer denied Brightstar’s claim on the grounds that the stock was not missing and was instead delivered to a customer with Brightstar’s knowledge, a claim Brightstar denied. Starr later sued Brightstar forattemptinginsurance fraud, with the court ruling in favour of Starr in September 2019.[37]
In July 2014, a consortium of Underwriters at Lloyd’s, London also filed a lawsuit against Brightstar and its German subsidiary following Starr’s lawsuit in the United States.[38] According to the complaint, in December 2013, the same month Brightstar was sued by Starr, Brightstar sought to increase its insurance coverage of the products held in Germany from $40 million to $75 million, but the Underwriters of Lloyds declined to increase the coverage.The claim was voluntarily dismissed in January 2018.
Misapproriating Confidental Information
In May 2019, Subscriber Holdings LLC filed a lawsuit against Brightstar and four of its subsidiaries, as well as Sprint Corporation, Mobile Leasing Solutions LLC, and SoftBank Group Corp, for damages resulting from the misappropriation of Subscriber’s trade and other protected confidential information.[39]
Brightstar’s Joint Venture with Alleged Drug Trafficker
In May 2007, Brightstar entered into partnership with WSA Distributing Inc, a company owned by businessman Carlos Becerra,[40] Claure’s close associate who was investigated and arrested in 1996 for illegal firearm possession, phone cloning, money laundering,[41] and cited by the DEA for cocaine trafficking.[42]
In 2009, Claure and Brightstar sued Becerra and his company after the relationship between Becerra and Claure soured, accusing Becerra of misrepresenting the financial health of their venture in Mexico and misleading Brightstar into injecting additional loans into the company in addition to providing a credit of $30 million to allow Brightstar Retail to purchase inventory.[43]
The complaint claims that Claure and Becerra maintained a close, personal relationship, and that Claure maintained a high degree of trust in Becerra, which he later exploited by making “material misrepresentation to [Claure] and Brightstar.” The complaint further notes that Becerra misrepresented the growth possibilities that would arise from a joint venture between Brightstar and WSA Distributing by inflating the financial health of WSA Mexico.[44]
The parties reached a confidential settlement in June 2010.
References
- ^ "About Brightstar - Brightstar Corporation Web Page". Archived from the original on 2012-11-01.
- ^ "Forbes Names Brightstar As One Of "America's Best Midsize Employers" For 2019". EconoTimes. 2019-12-16. Retrieved 2020-08-24.
- ^ Gale, Kevin (18 October 2013). "How Brightstar CEO Marcelo Claure turned a freebie into a $1.26 billion deal". South Florida Business Journal.
{{cite web}}
: CS1 maint: url-status (link) - ^ BRIEFING, BUSINESS. "CHS BUYS BRIGHTSTAR". Sun-Sentinel.com. Retrieved 10 November 2021.
{{cite news}}
:|first1=
has generic name (help) - ^ Frates, Chris. "Overlooked red flags thrust Jeb Bush into scandal - CNNPolitics". CNN. Retrieved 10 November 2021.
- ^ "Miami Businessman helf". Miamiherald. Retrieved 10 November 2021.
- ^ Frates, By Chris (30 March 2015). "Jeb Bush missed red flags in Florida business scandal | CNN Politics". CNN. Retrieved 10 November 2021.
- ^ "CHS ELECTRONICS INC". Sec.gov. Retrieved 10 November 2021.
- ^ Partners, Mainsail (2011-04-05). "Brightstar Corporation Acquires eSecuritel". Mainsail. Retrieved 2020-11-20.
- ^ Carew, Sinead (2013-10-18). "SoftBank to spend $1.26 billion for majority Brightstar stake". Reuters. Retrieved 2020-07-31.
{{cite news}}
: CS1 maint: url-status (link) - ^ "BRIGHTSTAR EXPANDS GLOBAL PRESENCE WITH ACQUISITION OF 20:20 MOBILE GROUP IN EUROPE". Yahoo Finance. 5 December 2013. Retrieved 2020-07-31.
{{cite web}}
: CS1 maint: url-status (link) - ^ "Brightstar acquires majority stake in Bharti Group's Beetel Teletech". The Economic Times. Retrieved 2020-07-31.
- ^ a b c d Reiser, Emon (12 July 2018). "Brightstar Corp. CEO to resign". South Florida Business Journal.
{{cite web}}
: CS1 maint: url-status (link) - ^ Reiser, Emon (19 June 2018). "SoftBank Group Corp. subsidiary buys online seller of used smartphones". South Florida Business Journal.
{{cite web}}
: CS1 maint: url-status (link) - ^ Sladky, Lynne (2019-10-25). "SoftBank hopes new WeWork leader will be 'guided missile' to fix it". Los Angeles Times. Retrieved 2020-07-31.
{{cite web}}
: CS1 maint: url-status (link) - ^ "BrightStar Corp. Acquires Right Insure". NuWireInvestor. 2019-11-21. Retrieved 2020-08-24.
- ^ McCaskill, Steve (21 April 2020). "Brightstar acquires device repair firm WeFix". TechRadar. Retrieved 2020-07-31.
{{cite web}}
: CS1 maint: url-status (link) - ^ Narioka, Kosaku; Dvorak, Phred (2020-09-18). "SoftBank Sells Brightstar, Carrying On Its Divestiture Spree". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-10-13.
{{cite news}}
: CS1 maint: url-status (link) - ^ Grill Pettersson, Mikael (2021-05-24). "Efter anklagelserna: Mobiljätten lämnar Sverige efter 45 år". SVT Nyheter (in Swedish). Retrieved 2021-05-24.
- ^ "Brightstar Corp. to withdraw from the Swedish Market due to unfair and discriminatory treatment by the Swedish Tax Agency". News Powered by Cision. Retrieved 2021-05-24.
- ^ "Brightstar's transformation into Likewize reflects new focus". FierceWireless. Retrieved 2021-09-01.
- ^ "Brightstar plans $115M IPO". RCR Wireless News. 30 November 1999. Retrieved 10 November 2021.
- ^ "Brightstar withdraws IPO". RCR Wireless News. 30 November 1999. Retrieved 10 November 2021.
- ^ "Gadget Distributor Brightstar Plans $300 Million IPO". Investors Hub. Retrieved 10 November 2021.
- ^ Warner, Melodie. "Brightstar Corp pulls plans for IPO". MarketWatch. Retrieved 10 November 2021.
- ^ "Marcelo's moment: Saving Sprint is biggest challenge of Claure's already impressive life". The Kansas City Star. Retrieved 10 November 2021.
- ^ "Inc.com- Closing the Deal". web.archive.org. 6 March 2005. Retrieved 10 November 2021.
- ^ BRIEFING, BUSINESS. "CHS BUYS BRIGHTSTAR". Sun-Sentinel.com. Retrieved 11 November 2021.
{{cite news}}
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has generic name (help) - ^ Frates, Chris. "Overlooked red flags thrust Jeb Bush into scandal - CNNPolitics". CNN. Retrieved 11 November 2021.
- ^ "LegalMetric - Litigation Analysis: Florida Southern District Court 9:99cv08186". web.archive.org. 14 October 2010. Retrieved 11 November 2021.
- ^ "CHS HAS $45 MILLION PROBLEM". Sun Sentinel. Retrieved 11 November 2021.
- ^ "CHS ELECTRONICS INC". Sec.gov. Retrieved 11 November 2021.
- ^ "Roadhound MD attacks Telstra's Brightstar deal". iTnews. Retrieved 11 November 2021.
- ^ Knutson, Ryan (24 December 2015). "Sprint Spent Heavily for Advice Later Brushed Aside". Wall Street Journal. Retrieved 11 November 2021.
- ^ a b "Telstra to end handset supply agreement with Brightstar". The Australian. Retrieved 11 November 2021.
- ^ LeMay, Renai. "Telstra slashes Brightstar deal". ZDNet. Retrieved 11 November 2021.
- ^ a b "Starr Indemnity & Liability Company v. Brightstar Corp. et al, No. 1:2013cv08580 - Document 176 (S.D.N.Y. 2019)". Justia Law. Retrieved 11 November 2021.
- ^ "Certain Underwriters At Lloyd's Of London v. Brightstar Corp. et al". www.law360.com. Retrieved 11 November 2021.
- ^ "Subscriber Holdings, LLC v. Brightstar Corp. et al (1:19-cv-01991), Georgia Northern District Court". www.pacermonitor.com. Retrieved 10 November 2021.
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- ^ "Club owner had cash-stuffed wetsuit". San Diego Union-Tribune. 28 January 2014. Retrieved 11 November 2021.
- ^ Annex G: Southern District of California 1997 criminal case against Carlos Becerra and the money seized from him in Chula Vista, case number 3:97-cv-01876-K-LSP.
- ^ "Brightstar Corp. v. WSA Distributing, Inc. et al, 1:09-cv-20795-PAS (S. D. Fla, 2009) ;". www.govinfo.gov. Retrieved 11 November 2021.
- ^ Brightstar Corp. v. WSA Distributing, Inc. et al, 1:09-cv-20795-PAS (S. D. Fla, 2009) (Exhibit 11, 11A – docket cover sheet, Complaint)