This is from the complaint for injunction relief. I not a transactions attorney, in fact, I practice exclusively in an unrelated tiny area of the law, so I'm no expert, but when I read this, I kinda spewed my cup of coffee, thinking that we may be going after USC/UCLA next.
"In June 2022, the University of Southern California (“USC”) and the University of California, Los Angeles (“UCLA”) announced that they would leave the Pac-12, effective August 2024, at the conclusion of its existing media rights deals with ESPN and Fox, to join the competing Big Ten Conference. Those announcements violated the Pac-12’s Constitution and Bylaws (“Bylaws”), which state that “[n]o member shall deliver a notice of withdrawal to the Conference in the period beginning on July 24, 2011, and ending on August 1, 2024[.]” This prohibition recognizes the substantial and irreparable harm that an early notice of withdrawal causes to the Conference, including to its ability to retain other members and to negotiate future media rights deals, which generate significant revenue for the member schools and support the Conference’s mission."
Doesn't this set out a colorable claim that USC/UCLA are the proximate cause of all the damage we have and will suffer as a result of the break up and were in breach? Is this why we retain Wall Street counsel? Thoughts anyone, but particularly from attorneys out there with some business/transactions experience.
Go Cougs!