Dave Ramsey Sued for $150 Million by Former Fans Who Followed His Timeshare Exit Advice
(Link): Ex Dave Ramsey followers sue him for more than $150M over endorsement of failed timeshare exit company
by L. Blair
Evangelical financial advisor and CEO Dave Ramsey is being sued by a group of his former followers for more than $150 million for allegedly deceiving thousands of listeners of his nationally syndicated radio show and podcast to invest millions of dollars into a failed timeshare exit company.
(Link): Dave Ramsey sued for $150 million over endorsing deceptive timeshare-exit company
June 2, 2023
…The Morrills, along with 15 others, are suing Dave Ramsey and his company the Lampo Group (now known as Ramsey Solutions), asking for $150 million over accusations of negligent misrepresentation, unjust enrichment and violation of consumer protection laws. The lawsuit was filed in late April in the U.S. District Court for the Western District of Washington, where the Timeshare Exit Team was located.
The plaintiffs, each of whom paid thousands to the Timeshare Exit Team based on Ramsey’s advice, say that Ramsey did or should have known better than to endorse the company. They also say Ramsey’s advertising was deceptive, alleging he failed to disclose that he was receiving compensation for the endorsements and that he misrepresented the advertisements as bona fide advice.
…The company also failed to deliver on the 100% money-back guarantee that it advertised and that Ramsey advertised on his shows, according to the lawsuit.
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