I worked for one of the Sharks specifically in dealing with their Shark Tank investments. It is not a lie. The verbal agreements on the show are just that. This founder is saying things out of spite because his deal fell through in due diligence, which in my experience is 100% on the founder almost all of the time. Founders will hide things like law suits, giant piles of debt, etc thinking that the Shark teams won't find it. Or sometimes the product has serious flaws that the founder wasn't transparent about on air.

I stopped working for the shark before "Beyond the Tank" came out so I can't speak to the sharper image thing.