XBIZ NEWS: Penthouse Sued Over AFF Acquisition. HOLY SHIZZLE!!!!!!
 

HOLY SHIT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

http://xbiz.com/news/90958


LOS ANGELES ? Broadstream Capital Partners, a merchant bank that assists with mergers and acquisitions, has filed a lawsuit against Penthouse Media Group Inc. The suit alleges Penthouse breached a contact to acquire Various Inc. ? the company that owns and operates AdultFriendFinder.com and other social networking sites ? as a joint venture with Broadstream.

In its lawsuit, which was originally filed in Los Angeles Superior Court in December and moved to U.S. District Court in February, Broadstream alleged that Penthouse has committed breach of contract, breach of the covenant of good faith and fair dealing, breach of fiduciary duty and constructive fraud. .................................


READ MORE AT XBIZ.COM!!!!!!!


http://xbiz.com/news/90958

Jetting to page 6...

I'm on the first page of this shit....

That's just crazy... guess ya don't piss on big deals like this.

Interesting.

:ticking

they just had to wait 8 days:) although Im sure they were in breach just by talking with them before 1 year.

i'll park my sig here...

Now that is some huge news. When you are done reading the article, feel free to click my delicious sig :)

Oh my, that's not good

hmmm....

Big news.

That's fucked up...

This could Jet very interesting

sig spot :thumbsup

humm kinda interesting, if Penthouse actually used inside info to out bid. Makes you wonder WTF they were thinking if this is actually true.

Will be interesting to see how this plays out

pretty crazy

Sig spot!! Get your unique writing today!!

See siggy!!

AFF always manages to be engulfed in drama and fraud. How odd. How legendary of them.

That should make for an interesting notation in their IPO filing.

#23 is still a damn good spot!

Well damn...

Woa!

http://video.yahoo.com/watch/2101024/6608578

thanks for the link.

WTF?

alienq invented penthouse and aff

http://www.ialien.com/shocking.png

whoopsie!

Say bye bye to the AFF we all knew and loved.

Well hell, thats gonna get interesting.

Wow this could be interesting

Thats awesome

when this was mentioned a little while ago people were making it sound like the lawsuit coming out was over providing advertising to support illegal content distributors. what a let down. does anyone seriously think penthouse would jus tgo out on a limb and do something stupid like this expecting to not catch some backlash? they obviously wanted aff to themselves. they took it, and i'm sure a $20 million lawsuit isn't going to hurt them too badly. you won't see any change in aff do to this alone...

$20 million on a billion $ deal isnt a big deal.. by the time the settle its more like 3 million.

doesnt look good at all.

thks for the info ")

Wow, that is some crazy shit.