Is Peter Comisar Right or Wrong?
Is Peter Comisar right or wrong? This decision will be taken by the judicial system of the country. We, outsiders, are no one to decide the life of others. But it is important to know the context, Accusation, and the main conclusion from the story. Because it can happen with anyone else. It is our responsibility to make all of them worthy to fight for the truth. Let’s see why Peter Comisar filed a complaint against Scooter Braun.
There are mainly 5 reasons because of which Peter got triggered against Mr. Braun. Before going to the discussion, let’s see what was the designation of Mr. Peter Comisar.
Who is Peter Comisar?
Peter Comisar is a famous personality in the investment industry. His thorough knowledge of investment management has helped many. He invested his 20 years in Goldman Sachs. However, currently, he is the vice-chairman of Guggenheim Securities. In 2016, he started working for Mr. Scooter Braun. Later this turned out to be a terrible mistake according to them. As mentioned, there are a total of 5 reasons that are popping out. Those are as follows.
- Scope Capital Management was a dream of Mr. Scooter Braun. According to the statement of Peter Comisar, the manager of Mr. Braun, Mr. David Bolno decided to recruit Peter for better results. However, for some reason, he was unable to do so. But Peter was accused of the loss he didn’t do.
- Secondly, the other purpose of Scope Capital Management was to earn more than $250 million. Braun wanted to grow the net revenue from $500 million to $750 million. But did he take the proper steps for it? Because blaming someone for not being worthy to restore the loss is meaningless. It is heard that Peter was recruited by Braun for $3 million just to do this job primarily.
- Then comes the share prices. We all know that a company’s share price depends on the actions taken by the respective companies. Though it is the primary task, some other facts depend too. Like market demand, stats, weather, production, GDP, employment, and others. Some facts are out of someone’s hand. So, pushing a company’s share price to the top level is a hard job. Mr. Peter Comisar did it carefully and made Ithaca’s share price up to $1.05 billion. The problem is, Braun is ignoring the fact that Comisar has contributed to the success.
- In 2018, a merchant bank was established by Scooter Braun. For those who are related to investment, profit is their only desire. Making a merchant bank is the best option. The decision was good and implementation was quite wrong. Though Peter Comisar was recruited as an advisor and also as a partner, he couldn’t step up as a good advisor. As a result, a loss made Braun fade up.
- Lastly, an off-topic made him surprised. The topic of racism came up while filing the suit. It was not expected, but as it is a sensitive matter, some proper commitments had been done.
So, these are the 5 reasons that popped up till now. As all of these statements are based on collected information, it would be wrong to reach any conclusion. The investigating team will provide updates soon.