There has been an update on the dispute between The Gathering Spot and Greenwood.
As previously shared by AfroTech, The Gathering Spot Co-Founder Ryan Wilson reportedly filed a lawsuit on behalf of himself and Co-Founder T’Keel Petersen against Greenwood CEO Ryan Glover and Board Member Dr. Paul Judge for alleged fraud and deception. The lawsuit was said to have been filed due to claims that Greenwood failed to make post payments based on their sales agreement. The filing came after the digital banking platform acquired The Gathering Spot in May 2022.
Now, on July 24, The Gathering Spot and Greenwood shared a joint announcement that they reached a resolution regarding their “outstanding business disputes.”
“No one wins when the family feuds,” Ryan Glover and Ryan Wilson shared in a statement via Instagram. “We apologize for distracting our communities over the last week as this became a topic of so much public discussion. As we work together to build for our community and customers, we will continue to hold ourselves to the highest standards.”
The statement continued, “Even though business disputes are common in corporate transactions, Greenwood and The Gathering Spot are pleased to put this issue to rest and move forward.”
The statement also read that the terms of the agreement between the parties weren’t disclosed. However, it was shared that The Gathering Spot will keep operating as an independent subsidiary of Greenwood by Wilson and Petersen. Additionally, it was noted that they plan to continue collaborating on how to further empower the Black community.
While it seems like they’ve resolved the matter, some of the public isn’t buying it.
“It feels like ChatGPT wrote this…I’m trying to reserve my deeper thoughts about this entire situation but come on now,” one user wrote.
“We need the video version of TK Petersen and Ryan Wilson stating that all is good in the neighborhood because this reads like a mystery movie that is still unsolved,” one user chimed in.
“We want to hear from Ryan and TK,” another one wrote.
While people are sounding off with their questions, it appears that they may be answered. Along with the announcement, The Gathering Spot and Greenwood are taking action to address their community and their questions following the dispute. The Gathering Spot members, Greenwood account holders, press, and media have been invited to their community audio town hall, which will be hosted by Dennis Byron on Fanbase at 7 p.m. EST on July 24.