Shark Tank investor and original panel member Kevin Harrington is facing a lawsuit for allegedly withholding payment to his partner in an online business endeavor.
Harrington partnered with Miami real estate broker Robert Pelletier to found Power Shark Capital in 2013. Their token venture was to create a “celebrity-driven” mobile shopping app called Starshop.
According to a lawsuit filed in Hillsborough County, Pelletier agreed to sell his stake in the St. Pete-based company back to Power Shark for $182,300 after he says he suffered “persistent harassment and bullying.”
The terms of that agreement included payment installments that would be paid out as certain benchmarks were met. Some of those listed in the lawsuit were reaching the first $1 million in sales or launching the StarShop app.
However, Pelletier claimes he’s received just $15,000 of the agreed-upon payments and that Harrington is “downplaying” the company’s success.
He also alleges attorneys have accused him of forgery and kickbacks.
Pelletier is seeking payment due as well as additional damages.
Harrington is not only well-known for his work on the cable show Shark Tank, he has also served as chair of As Seen on TV and CEO of HSN Direct International.
Harrington has also spoken for a TEDx event and written a book titled Act Now! How I turn ideas into million-dollar products. He’s the self-proclaimed “king of the infomercial” and “the man who turned television into sellevision.”
The website for StarShop boasts singer Paula Abdul promoting products like shower speakers that stick to the wall and can answer phone calls. Abdul is not new to the infomercial seen. She’s an HSN frequenter.