Duke basketball great Christian Laettner seems to be struggling a bit with the economic downturn, as his Venture Capital company is the target of a couple lawsuits for allegedly being in default on loans. One of the people suing him and his firm is San Diego Charger Shawne Merriman, whose Maryland-based company leant Laettner $3 million. From the Raleigh News & Observer:
In the other suit, filed in the Maryland Southern District, Merriman says he agreed to lend Laettner and Davis $3 million in two installments and he would obtain ownership in real estate projects owned and developed by Blue Devil Ventures. Merriman is asking a judge to order the two to pay back the $3 million plus interest and to give Merriman his ownership interests in the projects.