Updated: Mar 19, 2020
In December of 2018, the Pulaski County Circuit Court of Arkansas approved a class action settlement with the promoter and promotion companies of Thunder on the Mountain. The settlement provided a $1 million lien against any recovery by the promoters in a lawsuit they were pursuing in a federal court in Kansas against their partners in Thunder, which were two venture capital firms (known as Madison and Horsepower).
In mid-February of 2020, the producer and production companies successfully tried their case to a jury and secured a verdict of $7.06 million against Madison and Horsepower. Yesterday, on March 17, 2020, the federal court denied Defendants' motion to provide a judgment in their favor and in disregard of the jury's verdict.
The verdict is good news for those that purchased passes to Thunder. But there are not refunds available at this time, and any possible appeals will drag matters out further.
Please also know that we are pursuing claims on behalf of purchasers of passes and vendor booths in Lonoke County Circuit Court, Arkansas, against Madison and Horsepower. We are presently in the discovery phase of that case.