‘The Profit’ Producers Beat $30 Million Arbitration Lawsuit Filed by Bankrupt Contestant

The producers of CNBC’s “The Profit” have beaten a $30 million arbitration lawsuit filed by the trustee of a bankrupt contestant that appeared on the show in 2015.

Last year, Lynn E. Feldman, Esquire, the Chapter 7 trustee for the estate of Pennsylvania design company Precise Graphix, LLC, sued NBCUniversal, Camping World Inc., a vehicle retailer partially owned by Marcus Lemonis, and the production company Machete for $30 million in damages, alleging that the show committed fraud and breach of contract that led to the company’s bankruptcy in 2021.

In May, an arbitrator dismissed those claims, finding that they were “unsupported by competent, credible evidence.”

“Given the complete failure of competent, credible evidence supporting her allegations at the hearing, the Trustee cannot establish the required elements of the fourteen causes of action alleged in the Demand,” arbitrator Ann Jones wrote in the ruling revealed in bankruptcy court documents on Wednesday. “Even if one were to find the testimony proffered by the Trustee in support of her claims credible (which the Arbitrator does not), several of the causes of action asserted by the Trustee would still fail as a matter of law.”

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NBCUniversal has been awarded $1,916,538 in attorneys’ fees and $332,750.47 in costs, Camping World has been awarded $3.3 million in attorneys’ fees and $402,758.26 in costs, and Machete has been awarded $878,200 in attorneys’ fees and $271,701.25 in costs.

“All of the bluster kicked up by Gerry Fox last year around his absurd claims stands in stark contrast to the ultimate truth that was revealed at the arbitration hearing,” Lemonis, who serves as Camping World’s CEO and the host of “The Profit,” said in a statement shared with TheWrap. “We are glad there are consequences for bringing such baseless claims.”

Gerard Fox, an attorney for the trustee, told the LA Times that they would appeal the decision, arguing that the judge “disregarded facts and the law.” Representatives for NBCUniversal declined to comment, while Machete did not immediately return TheWrap’s request for comment.

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