So, this morning I got word that David J. Stern is buying up all the Five Guys Burgers in the country.
My source in Fort Lauderdale tells me that attorney David J. Stern has rolled over his $Millions in foreclosure home profits and the cash he got up front from the Chardan 2008 China Acquisition Corp deal into at least 150 Five Guys Burger and Fries Franchise’s, will that be fries with your meal sir?
It appears that David J. Stern is buying ”Five Guys Burger and Fries Franchise’s” in bulk
I started digging around and could not find much except this from Five Guys Franchise website…
We are pleased to announce that we are currently sold out in the United States and in Canada.
Our franchisees are feverishly working on completing development of their territories. This means that there are some areas without Five Guys locations, but those territories have been sold and franchisees will be opening there soon.
Without anything else to go on, I sent an email over to my friendly neighborhood foreclosure reporter and she got the conformation we needed so here you go.
From the PB Post…
Foreclosure King to Burger King, Stern buys into Five Guys
David J. Stern, whose Plantation-based law firm once handled the largest share of foreclosure cases in Florida, has invested in a copmany that owns franchises of Five Guys Burger and Fries.
Stern’s attorney, Jeff Tew, confirmed the investment this afternoon, saying it was made in the last couple of months.
Stern’s firm was once the largest so-called foreclosure mill in Florida, growing from its 1994 founding to handle an estimated 100,000 cases statewide. It closed in March amid a state investigation and allegations of wrongdoing.
That investigation has since stalled in the courts after a 4th District Court of Appeal ruling that the state has no standing to investigate under the Florida Unfair Trade Practices Act. Florida Attorney General Pam Bondi has certified the ruling to the state Supreme Court as a matter of great public interest.
Tew asked today what the news was in that Stern bought into Five Guy franchises, and that’s a good question. Maybe it’s that he’s still got the money to invest even after the collapse of his company and legal battles he’s fighting on several fronts.
You can check the rest out from the PB Post here…