Riedel Calls for Emergency Board Meeting

Philadelphia, PA, April 5, 2016 (Newswire.com) - ​​Since missing their revenue target for the first quarter of 2016, the Brotherhood Basketball Corporation hasn’t quite rebounded. When Hamilton “Tony” James, President of Brotherhood Operations, suggested co-investing in Lambda Chi Alpha – Epsilon Zeta with the ELC Corporation (a division of Scheiber, Scheiber, and Scheiber), it looked like a slam dunk. Now, the $3 billion investment for 75% of the firm looks like a patented Michael Kandel airball, as Lambda Chi Alpha – Epsilon Zeta announced that is currently being investigated by the Securities and Exchange Commission for defrauding investors by not being “fun enough”. Brotherhood Basketball shares have dropped over 35% since the announcement, heading towards an all-time low. In an effort to try to right the firm’s path towards the future, Ben Riedel, Chief Executive Officer of Brotherhood Basketball, has called on Nikhil Nag to organize an emergency board meeting next Saturday, April 16, at the Pottruck Gymnasium (time TBD).

Nag, who is currently serving as the Managing Partner of the Silicon Valley-based Core Group and has retained his title as Chairman of the Board of Brotherhood Basketball, continued right where he left off after resigning the Chief Executive spot at Brotherhood Basketball. After setting a Silicon Valley 3v3 league record in points per game, he registered a decisive victory in the 56th Annual Lambda Chi Alpha – Epsilon Zeta Bracket competition (in addition to a 3rd place finish in the nationwide Lambda Chi Alpha pool) and solidified his status as one of basketball’s greatest minds in the eyes of equity research analysts around the world. “Nag’s presence…is about as comforting as a full head of hair,” noted Sahil Vanjani, Head of Equity Research at Dewan & Dewan, LLC.

"Nag's presence…is about as comforting as a full head of hair"

Sahil Vanjani, Head of Equity Research, Dewan & Dewan, LLC

However, Nag won’t be the only outsider at the emergency meeting. Lewis Ellis, Managing Partner of Ellis Capital Management, will be bringing his trademark competitiveness and foul calling the event. Max Scheiber, Managing Partner of Scheiber, Scheiber, and Scheiber and Chairman of the Board of Thompson Pharmaceuticals, will be representing David Schieler of the ELC Corporation at the meeting. According to numerous sources, Schieler was slated to attend the meeting as recently as last week, but as of yesterday is dealing with allegations that he did not submit an Event Planning Form when 10 of his fellow Minnesota State Mankato Lambda Chis happened to be in the same restaurant and that he attended a party that neglected to give out drink tickets. Ken Beierlein, of Houlihan Lokey, will also reportedly be in attendance to deal with a potential restructuring of Lambda Chi Alpa – Epsilon Zeta.

Executives at Brotherhood Basketball have mixed feelings about the meeting. “I can’t imagine who would have turned…[Schieler] in,” wondered Kieraj Mumick, Chief Executive Officer of the firm’s Asian operations. “It’s not like anyone as a huge vendetta against him for illegally obtaining compromising information.”

“Internally, Nag has suggested…events that involve having fun, drinking, and hanging out with friends from April 14-16,” said Kyle McKee, Chief Learning Officer. “This literally makes zero sense to me.”

“I’m glad that we’ll be able to socialize with a number…of industry leaders in a low-pressure setting,” noted Alexander Rottkamp, the firm’s in-house accountant. “That low-pressure setting, of course, being Dirty Frank’s. I hear you can get f@$ked up there for like $15.”

“I’m just happy that we’re getting the organization’s most important core executives together at a critical juncture for the firm,” said Riedel. “One might even call the attendees of next Saturday’s meeting the Core Group.”

About Brotherhood Basketball

The Brotherhood Basketball Corporation is a leading basketball event management firm that has a substantial and diverse client base. Founded in 2013, the firm is headquartered in Philadelphia and maintains offices in all major basketball centers around the world. It meets at the house on basketball days and firmly avoids dilly-dallying.