Got $3.9 Million?
As the old saying goes, the hits just keep on coming. Rich Rodriguez was just hit with a $3.9 million dollar lawsuit. Nexity Bank filed a complaint against Rodriguez and his partners for a high end development project in Blacksburg, Virginia gone bad in the U.S. District Court for South Carolina (7:09-2142-HFF).
Weeding out the legal jargon, Nexity is seeking damages for a default on a promissory note that funded the real-estate project. Rodriguez is one of the guarantors and is obligated to pay on the note and any interest on the default.
This complaint couldn’t have come at a worse time as Rodriguez is dealing with an internal investigation surrounding NCAA infractions for excessive practices.
The Matador will follow this case and keep you updated. If you would like a copy of the complaint, please email The Matador.
