Shannon Briggs filed a lawsuit in the New York State Supreme Court, alleging breach of fiduciary duty, conversion, unjust enrichment and breach of contract against Gregory D. Cohen, Shelly Finkel and Barry Honig, and their boxing and entertainment promotional company, Empire Sports & Entertainment. In October 2010, Briggs fought WBC heavyweight champion Vitali Klitscko, in Hamburg, Germany where Klitschko won by unanimous decision. Briggs’ had an understanding from his promoters,that he would be paid a purse of $750,000, however, Briggs has only been paid $25,000 to date.
Briggs made history as a heavyweight champion having 27 first round knockouts. He is known for his devastating punching power and “the man that beat the man.” Briggs’ record also reflects at least 3 recorded fights where he knocked out his opponents in less than 30 seconds.
The lawsuit says, Cohen forged Briggs’ signature on a provision of services agreement dated July 27, 2010. The agreement said that the entity called “The Empire Sports & Entertainment of New York” promised to provide the services of Briggs to K2 Promotions for a heavyweight championship bout against Vitali Klitschko to be held in the fall of 2010.
The lawsuit also states, Cohen. on behalf of Finkel, Honig, Empire and Holdings promised Briggs a purse of $500,000 plus $50,000 training expenses plus $200,000 in additional compensation to participate in the bout against Vitali Klitschko, and Briggs agreed to participate in the bout in reliance on that promise.