First Brands Founder James Says Lenders to Blame for Bankruptcy
Market Intelligence Analysis
AI-PoweredFirst Brands founder Patrick James is shifting the blame for the company's bankruptcy to lenders, accusing them of predatory practices that led to the company's downfall.
Market impact analysis based on bearish sentiment with 70% confidence.
Article Context
First Brands founder Patrick James asked a judge to dismiss a lawsuit accusing him of misappropriating hundreds of millions of dollars, contending firms that provided his company with off balance-sheet financing engaged in “predatory” practices that helped tip the auto-parts supplier into bankruptcy.
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