Miami Herald | UM booster John Ruiz’s company says it could close within a year

The slow collapse of John Ruiz’s insurance claims company appears to be nearing its end. MSP Recovery, helmed by the brash attorney and University of Miami athletics booster, admitted that it has “substantial doubt” about its ability to continue to operate beyond the next year, according to its 2024 annual report filed this week with the Securities and Exchange Commission.

“Almost certainly, the company is going to be going out of business,” said Jay Ritter, a University of Florida business professor who specializes in startups.

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