Chip Gaines could be paying out some big money to his former business partners.
In a lawsuit filed last week, the partners claim that Gaines urged them to sell their equal shares of Magnolia Real Estate Company while hiding news that HGTV planned to broadcast the show Fixer Upper and feature the Magnolia brand name.
They are seeking more than $1 million in damages. They believe they were misled into selling their shares without knowing the truth.
Gaines' attorney said,
"We are confident that these claims will be found to be meritless, and it is disappointing to see people try to take advantage of the hard work and success of Chip and Joanna Gaines."
The light shines in the darkness, and the darkness has not overcome it.— Chip Gaines (@chippergaines) April 28, 2017