A lawyer for John David Stroud issued a statement Wednesday that made it clear that Mr. Stroud denied any wrongdoing in the lawsuit against him and Texas Tech Head Football Coach Tommy Tuberville. The statement went a step further to say that Coach Tuberville had little involvement in the day to day operations of the company and did not solicit the plaintiffs in this case.
“(Stroud) did not solicit the plaintiffs to invest with TS Capital and did not engage in the conduct of which he is accused…Indeed, some of the plaintiffs were employees of TS Capital and were closely involved in the matters of which they complain in the lawsuit…It is disingenuous and incorrect for them to claim now that Mr. Stroud or Coach Tuberville acted improperly with respect to any of them. Given Coach Tuberville’s lack of involvement with the day-to-day operations of the company, as well as the fact that he did not solicit the plaintiffs, Mr. Stroud can only surmise that he was named in this lawsuit to garner unwarranted media attention, which has apparently succeeded. Mr. Stroud will vigorously defend the accusations made against him.” - Harris Kay, attorney representing Mr. Stroud
That is excellent news for Coach Tuberville if it is true. It is always a little risky to immediately believe the guy that is getting sued. It’s not like his lawyer was going to come out on Wednesday and announce that John David Stroud did everything he was accused of. Still, this is good news for Tuberville and Texas Tech. The last thing the university needs at the moment is more negative publicity.
Unfortunately, even if Coach Tuberville did not solicit the plaintiffs and even if he had no knowledge of the day to day operation, that does not get him completely out of legal jeopardy. He is listed as a managing partner of the company. That saddles him with certain legal responsibilities. Just saying he did not know anything may not be enough to get him off the hook. If there was wrong doing by the company, he could be held responsible for what he should have known or should have done.
It could very well come down to an all or nothing equation for Tuberville. If the company did nothing wrong, he is obviously in the clear. If there was any wrongdoing that can be proved, he may have legal issues that could very well threaten his position at Texas Tech.