The Gathering Spot Founders Ease Legal Feud With Greenwood

The potential end to The Gathering Spot’s legal issues with co-owning group Greenwood has left fans pondering whether the dust has truly settled.

On July 24, after making headlines for its rapid changes to leadership and a swift lawsuit, both parties shared a joint statement declaring that “no one wins when the family feuds.”

This resolution comes quickly as BLACK ENTERPRISE confirmed on July 17 that the members-only club would be suing the banking platform which bought the company in 2022 for an alleged breach of contract and withholding owed funds. The lawsuit was also triggered by the termination of CFO and Co-Founder T’Keel “TK” Petersen. Being that The Gathering Spot (TGS) is proudly Black-owned and operated, replacing him with a white male executive in his role sparked controversy internally and from the public.

However, it is alleged that all has been forgiven. The CEOs of Greenwood and TGS, Ryan Glover and Ryan Wilson, respectively, shared that they have remedied the issue without escalating to court.

“We apologize for distracting our communities over the last week as this became a topic of so much public discussion,” detailed the statement reshared by AfroTech.

“As we work together to build for our community and customers, we will continue to hold ourselves to the highest standards. 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.”

Despite the peace-focused message, its original posting has been seemingly deleted. In its place, Wilson announced a community town hall with co-founder Petersen, set for July 25. Both entrepreneurs encourage their supporters to hear directly from them about the company’s current status and their role within it. Whether or not Greenwood’s CEO will be in attendance is unclear, but he has since shared the announcement on his personal account.

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Glover has also posted a formal statement from another account on how The Gathering Spot is an independent subsidiary of Greenwood that its original co-founders still run. As this dispute still unfolds, Petersen and Wilson’s town hall aims to clarify where the popular clubhouse’s leadership and direction stand.