The Pirate Bay deal on the rocks?
p2pnet news view Freedom | P2P:- Today is the day Global Gaming Factory X was to have become the official new owner of The Pirate Bay and GGF shareholders voted to acquire the site, says the IDG News Service, noting:.
“That a majority of the stockholders in GGF gave the acquisition its blessing doesn’t come as a surprise since Global Gaming Factory CEO Hans Pandeya (right) and his family control a majority of the shares.”
But this by no means signals the successful conclusion of the deal.
CEO Hans Pandeya says persistent rumours saying GGF doesn’t have the financial, or other, resources to complete it are merely part of a smear campaign.
But his protestations notwithstanding, GGF now seems to be in even more trouble.
GGF stock trading remains suspended on the Aktietorget equity marketplace, and Aktietorget now wants its disciplinary committee to consider if GGF should continue to be listed, says The Local, quoting a statement released today as saying:
“After a meeting with the company on August 26th Aktietorget has concluded that the company can not be considered to have the capability to inform shareholders in a correct, relevant and reliable manner.”
In its own statement, GGF claims, “several investors in the project have pulled out as a result of ’strong concerns following recent turbulence in the media’,” says the story, adding while the firm hasn’t been able to, “demonstrate the existence of the funds,” it claims that the investors are all, “existing shareholders in GGF and known to the management.”
However, Swedish media reports suggest the acquisition announcement, “was merely a bluff to boost GGF’s share price” and meanwhile, “the Swedish Economic Crime Authority has opened an investigation into potential irregularities,” says the Swedish Wire.
Expect to are seeing increasing numbers of The Pirate Bay clones popping up everywhere online.
Stay tuned.
IDG News Service – GGF Stockholders Approve Pirate Bay Acquisition, August 27, 2009
persistent rumours - Global Gaming debts threaten Pirate Bay deal, August 22, 2009
smear campaign – GGF boss Pandeya `subject of smear campaign`, August 26, 2009
The Local – Investors abandon Pirate Bay suitor, August 27, 2009
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August 27th, 2009 at 1:56 pm
Meanwhile I am dowloading and sharing with the new pirate bay shining boat!
it is working great!
August 27th, 2009 at 3:30 pm
@Jon:
“Expect to are seeing increasing numbers…”
???
Expect to see increasing…
August 27th, 2009 at 3:31 pm
Or just “expect increasing…”