They did just settle this lawsuit though...
SUNNYVALE, Calif., July 7, 2011 /PRNewswire/ -- FriendFinder Networks Inc. ("FFN") (NasdaqGM: FFN) announced today that it has reached an agreement to settle its previously disclosed litigation with Broadstream Capital Partners, Inc. ("Broadstream"). The agreement governing the settlement provides that FFN is obligated to pay Broadstream a total of $15.0 million, in three installments of $8.0 million, $5.0 million and $2.0 million, which are due on July 13, 2011, September 29, 2011 and January 2, 2012, respectively.
As a result of the settlement, FFN is able to put the Broadstream matter to rest, eliminate the potential impact of this litigation on its business and more fully focus on business growth now that this matter is resolved.
"We are pleased to have settled this matter at the low end of our potential exposure. Now that we have removed the uncertain impact of this litigation we look forward to continuing with our plans for acquisitions and organic growth," stated Marc Bell, Chief Executive Officer of FFN.
http://www.prnewswire.com/news-relea...125131284.html
Anyone else know more about Broadstream Capital partners?
Broadstream Capital Partners, LLC, is a Los Angeles based merchant bank formed in mid 2001. We are focused on making investments in, and providing advisory services to, companies in the underserved lower middle market.