John, the CEO of the Shark Group, offered to sell the 3M-made mask for a higher price to Florida officials trying to get them to front-line health care workers, advised LovebScott.
What We Know:
- Shark Tank’s Daymond John is being accused of trying to price gouge Florida officials during a deal that would have sent one million highly-coveted N95 masks to front-line health care workers.
- The Fubu founder and now head of Shark Group, told officials he had access to the masks and could sell them at $7 piece. The masks, made by 3M, typically sell for under $2 each.
- Even though John’s prices were through the roof, Florida officials agreed to buy one million masks for the inflated price. They were willing to pay any price to help health care workers fight the Covid-19 pandemic.
- According to MSN, the deal between Florida officials and John fell through but caught the attention of 3M who are investigation the situation for price gouging and fraud.
3M will also file a lawsuit for using the company’s name, brand, or trademark to engage in price gouging of N95 respirators and other illegal and unethical behavior.
