One of the co-founders of Tough Mudder Inc. is suing the company for alleged contract violations.
Tough Mudder, which runs a popular series of obstacle courses, was co-founded by Guy Livingstone and William Dean. Livingstone, a minority owner of TMI, claims the company breached a redemption agreement, a promissory note, and an intercreditor agreement to which he was a party.
He is seeking over $8.3 million in damages from TMI and its lender, Active Network LLC.
Among other claims, Livingstone said TMI breached the intercreditor agreement when it made a $675,000 payment to Dean to get him to step down...