Dave Ramsey lawsuit

[Tahoe Ray]

His investing advice is kind of fun to laugh at as well. He basically suggests researching past performance of funds to find ones that beat the market.

You mean that doesn't work? I've been lied to. Lol.

 

[Newby]

His investing advice is kind of fun to laugh at as well. He basically suggests researching past performance of funds to find ones that beat the market.

I bought a mattress at his endorsed local provider mattress store/fireworks stand once. It actually wasn't bad.
https://marksmattress.com/dave-ramsey/

 

[PrivClientSG]

He doesn't have to own the company to be liable for misleading statements he makes as a paid spokesman. The FTC is very clear about this.

"Money back guarantee" was definitely a misleading statement. Furthermore, he must know that the statements were misleading at the time they were made.

He continued to promote the company despite the Washington AG alleged that customers had a difficult time obtaining refunds and denied refunds after years of failure in resolving cases.

A year later Dave Ramsey noted he stopped endorsing them after "they could not afford the fee." A couple of months later, the company settled.

Dave will be settling this case.



There are no charges/indictments in a civil case. The complaint is the who, what, and desired remedy of a lawsuit.

First, I never said he had to own a piece of the charged company. Second, I wasn't referring to the civil case exclusively. As I said, there may be criminal charges here as well -- not saying who, but there could be.

I already read the complaint where Ramsey (and Happy Time Media Group) is getting sued. That was filed in the Western District of Washington. quite some time ago. This also has class-action status, which can swing the door open very, very wide. Maybe this just starts at $150 million.

If Ramsey was paid $30 million (approximately/allegedly his listeners paid $70 million in fees) he is not getting away from this for zero toll. This will cost, and cost him dearly, financially and in other ways.

So, he stopped promoting them AFTER they stopped paying him...Gee...I wonder if he has insurance?

 

[Lloyds of Lubbock]

If he had a whole life policy, he may be creditor protected.

 

[scagnt83]

If he had a whole life policy, he may be creditor protected.

He does have one.

I forget if he acknowledges this on his show ever. @DHK posted about it at one point on the forum.

 

[Lloyds of Lubbock]

I know he does not have a Guardian policy.
Years ago there were rumors that he had a NML last to die.

 

[Lloyds of Lubbock]

Good protection in Tn.
[EXTERNAL LINK] - Life Insurance Creditor Protection By State [Is Your Cash Value and Death Benefit Covered?]

 

[Travis Price]

First, I never said he had to own a piece of the charged company. Second, I wasn't referring to the civil case exclusively. As I said, there may be criminal charges here as well -- not saying who, but there could be.

Okay Sure you weren't.

 

[PrivClientSG]

If he had a whole life policy, he may be creditor protected.

LOL...it very much depends! First, who owns the policy? Him? Spouse? Trust? Second, depending on state law, the cash value can be treated differently than the proceeds. I just saw something on a pop up news article that said Ramsey's estimated net worth is $200 million. If true, that's a surprise.

 

[scagnt83]

I know he does not have a Guardian policy.
Years ago there were rumors that he had a NML last to die.

Its probably an Ohio National policy