McClenny's Sale to Moseley Uncovered! New details revealed!
We all knew that James McClenny sold his interest in MMA to Zach Moseley. Now we know how it went down. New details revealed in a recent court filing include:
The deal was effective March 31, 2023.
MMA had a joint venture with attorney Ben Baker, referred to as the Spartan Law Group, to handle first-party claims in #Oklahoma
McClenny and Moseley jointly owned the Texas Corporation, Prosperity Trade & Investment Group, LLC, which was also part of the transaction. What did Prosperity Trade & Investment Group invest in?
The Payment Terms disclosed total only $13,000 and are as follows:
- Former MMA and now Hair & Shunnarah attorney Calsie Boyd, received $500 under a Confidential Non-Disclosure and Non-Disparagement Agreement ("NDA") effective February 28, 2023, plus money due and owing to her under a Separation Agreement and General Release dated March 10, 2023.
- $10,000 to Matt Sheehan, Calsie Boyd's husband, as due under the NDA.
- $2,500 to Ashley McClenny, James' Wife, as due under the NDA.
Total assumption and indemnification of claims against McClenny by MMA, including 1. MMA's engagement with Velawcity; 2. MMA's engagement with Apex Roofing & Restoration; 3. MMA's pursuit and solicitation of plaintiffs including the Katherine Monson class action lawsuit 😀; and 4. the motor vehicle accident involving Seller while driving the MMA's 2019 GMC Denali having occurred on October 3, 2022 in Fort Meyers, Florida, but in excess of available MMA auto insurance coverage, plus an additional $18,000 which MMA agreed to contribute to the settlement of claims relating to that accident.
Hmmmm. What could have happened with Ms. Boyd and/or Mr. McClenny to call for an NDA, Separation Agreement and General Release? And why is Ashley McClenny and Matt Sheehan getting paid under the NDA? What was McClenny doing in Florida right after Hurricane Ian? What were the details of the car accident going over policy limits?
This agreement looks like McClenny simply walked away. Many people have reported to me that James was the brains behind the operation. While that appears to be a very low bar, James was smart to get out when he did. Still, it was too little, too late for him to avoid the consequences of his actions.
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