The factual basis behind this new attack ad appears to be solid (see below):
Court documents reviewed by The Washington Post show that a trustee for farmers and other creditors alleged that his father, Richard Budd, improperly transferred millions of dollars in assets to his family, including Ted Budd. That occurred before Richard Budd and a family company faced a $15 million judgment in the case.
Moreover, the trustee alleged, Ted Budd “acted in concert” with his father “in connection with the fraudulent transfers.” As a result, Ted Budd was named as a defendant in a civil case filed by the trustee.
In the end, a settlement negated the need for a trial and specified that there was no admission of wrongdoing. The “Budd entities” agreed to pay less than half of the amount initially earmarked for the farmers and other creditors — some of whom remain angry they only received a portion of their lost earnings.
The ad was produced by an independent expenditure group, the Senate Majority PAC, whose origins go back to 2010 and Senate Majority Leader (at the time) Harry Reid of Nevada.
Is the ad effective? Well, it made me go looking for the story behind it, so that's something.