Vinyl Me, Please says execs used codename, NDAs to keep RiNo plant ‘top secret’
“To date, the pressing plant has not demonstrated the ability to press vinyl records in a timely or professional manner.”
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The record retailer Vinyl Me, Please claims to have uncovered fresh evidence that a trio of fired executives went to great lengths to cover up their use of company funds to build a vinyl pressing plant in RiNo, including non-disclosure agreements and a codename for the project.
“We are keeping this project top secret internally,” former Chief Financial Officer Adam Block allegedly wrote in one email, urging stealth “so prying eyes don’t snoop around.”
The alleged NDAs, which would have prevented Vinyl Me, Please employees from discussing the clandestine project with VMP’s founders and board of directors, were drafted while the accused executives were reportedly spending $235,000 in company funds on equipment for the plant — which is not owned by VMP — and ignoring internal warnings it could fail.
“To date, the pressing plant has not demonstrated the ability to press vinyl records in a timely or professional manner,” Vinyl Me, Please claimed in an Aug. 30 court document.
Full story via BusinessDen
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