Wakeupnow Filing Multi-Million Dollar Lawsuit Against Kirby Cochran?
Breaking news the company Wakeupnow is involved in a huge lawsuit that involves it’s former CEO!
I don’t know this really doesn’t look good on the so called network marketing company.
Could it be a sign of the company shutting down or something worse?
Breaking news update Wakeupnow has filed a multi-million dollar lawsuit against its former CEO Kirby Cochran. Read more…!
This past week has been really crazy in light of the events of several network marketing companies chopping off their network marketing arm and disappointing the trust of many of it’s hard working representatives, executives, and distributors we have some more bad news to report.
Wakeupnow Filing A Huge Lawsuit
Many people questioned why the company Wakeupnow is filing for bankruptcy and then we did some research to learn that there is more to this case. The Wakeupnow community is in an uproar not just against the company but their former CEO Kirby Cochran according to a news brief on the website MLMWatchDog.
The details, as follows, is that Wakeupnow has reason to believe Kirby Cochran is responsible for the financial side of the company and has been held accountable for mismanagement of funds.
Kirby Cochran was terminated due to the following reason as follows:
Excessive personal and corporate expenses
Side deals with affiliates and employees
Engaging in undisclosed agreements with Cochran Family members
Abuse of travel during work hours
Destroying the reputation of Wakeupnow
Cross recruiting into his own side company
To read the full Wake Up Now legal dispute and court documents clickÂ here.
Clearly there is enough evidence that is being gathered against Kirby and his brothers who are now running a company called Global Connection Network which is trying to outdo Wakeupnow. It has been rumored that Kirby Cochran is mass recruiting members who aren’t happy with Wakeupnow and he has even broken the non-competing against company agreement.
The lawsuit is set at $70 Million dollars against Kirby Cochran for the following damages:
Breach of Contract
Breach of Fiduciary Duty
International Interference With Economic Relationships
Letter From Phil Polich New Wakeupnow CEO
A very interesting letter from the desk of Phil Polich, CEO of WUN Â posted on the company blog yesterday said this:
For the past 4 years WakeUpNow has been an integral part of my life. The IBOâ€™s and corporate staff have become like family to me and my family. As a collective team we have left a footprint in the network marketing industry that nobody could have ever expected. Led by President Jason Elrodâ€™s leadership and vision, we became known as the company that put the distributors first, and allowed more people to â€œwinâ€ than ever before.
As the top investor in the company I cheered the success, provided oversight as a board member, and trusted in the management team that we had assembled. Most of that trust was well placed, as was evidenced by the industry-changing momentum that we produced. Some of it, unfortunately, was severely misplaced.
By taking advantage of the office of Chief Executive Officer, Kirby Cochran had made decisions that put the company on an irreparable negative trajectory; and sadly, he went to great lengths to keep many of these decisions secret from the rest of the management team and board of directors.
When I stepped in as CEO in September I did so with an additional personal investment, and every intention of righting the ship. As I worked with a group of outside financial analysts it became clear that the issues ran deeper than originally expected.
Together with Jason, we worked diligently for the last 120 days doing everything we possibly could to turn it around. We explored every option, turned over every rock, and connected with every contact we had. Not enough can be said about Jason and his care for the distributors and his monumental effort to preserve the company for the thousands of people who he had come in contact with during his tenure. Itâ€™s not an exaggeration to call him the most distributor friendly president in the history of networking marketing.
As we made progress, we continued to discover that Kirby Cochranâ€™s deceptive actions had put the company in a position from which it could not recover. In the end, his decisions for a privileged few outweighed the incredible heart and dedication of the many.
With that said, effective immediately, WakeUpNow will cease all network marketing operations in the United States. We will continue to sell our products, including Awaken Thunder and the WUN Fit line of products. We will diligently work to fulfill all financial obligations of the company. I will continue to work with the creditors and vendors in anticipation of getting all obligations resolved.
It goes without saying that our hearts are heavy over this decision. It wasnâ€™t taken lightly, and it wasnâ€™t done without understanding the impact on the lives of so many people that worked with us.
Our hope is that your life is better for having been a part of the #WUNLife. We hope you move on to what is next and be better because of the experiences you have had with WakeUpNow. We hope you will remember the company for the way we changed the entire network marketing industry.
Philip J. Polich
Wakeupnow Filing Multi-Million | Conclusion
Even though, one person’s name has been brought forward to hold as responsible for the unlawful mismanagement of the company the question remains why didn’t Wakeupnow do anything in the beginning to prevent this from happening? It’s almost like they were holding this information just in case the company happen to ever shut down.
You would clearly think that before appointing someone the title CEO of a company that an extensive criminal and background check had to have been completed on this guy. Just what were they thinking of bring on board someone with such a track record for misuse of funds in his last company. We feel even the WUN is at fault still for what has happened because many representatives right now young and old are sitting at home trying to get their heads straight and start over to recoup what income has been stripped away from them.
Stupid mistakes like this in the network marketing industry yet again the people who get hurt are the ones who “make the company” and the greedy ones are the people still walk away with cash in hand smiling to the bank. It just doesn’t make any sense and its the risk that is taken by many who lack the knowledge of how to join a business opportunity who keep falling for the the facade and hype. What’s done is done and Wakeupnow will see their day in court but in the mean time don’t give up on your dreams simply because the doors have been shut. Â If you are a former Wakeupnow representativeÂ surely you learned a valuable lesson from this situation and will be even more motivated to not lose faith in the network marketing industry.
What’s done is done and Wakeupnow will see their day in court very soon but in the meantime don’t give up on your dreams simply because the doors of one company have been shut. Â If you are a former Wakeupnow representativeÂ surely you learned a valuable lesson from this situation. Post your comments below about how you feel about the company Wakeupnow filing for bankruptcy and this lawsuit.
See you on the next post,
Anastacia Hauldridge & Rich Guzman