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.

This price of a good party.

I told you guys this would happen.

Guess who owns BroadStream?

Yep you guessed it.

http://www.calgarywildlife.org/links...final_full.jpg

Great news :thumbsup

Im with these guys. Fuck Penthouse!

http://slb.careercast.com/files/jobd.../46a0f9852.gif

They hire minorities!

Two blacks, and Asian, a woman, and a Tranny.

What other team is so diverse?

Means almost nothing. It will drag out for 2 yrs, then end in a small settlment. Its almost impossible to do any sort of deal that involves multiple parties on this scale without a number of lawsuits....it just cost of doing business.

wtf... that is crazy news!

just a hunch but I'm betting with ipo s and such it's some retard lawyer on an extortionist scam thinking he can get a quick buck. My thoughts are it's more of a 'pay us now to shut up and settle or we'll make this more public and problems for you even though it's total bullshit' kind of thing.

safeway is fucking HUGE.

if that holding company DOES own safeway - wow.

not sure if safeway would want the media to know they were looking at buying the largest porn company in the world..........

dude above me is right - when you're in biz at that level lawsuits are just a cost of doing business - BUT if Penthouse thinks it's doing an IPO they are delusional - it's a dog with fleas, has been a dog with fleas and will always be one. I want an IPO to be successful because I will sell that thing short big time. Penthouse management doesn't even understand its' core business nevermind the businesses they just bought.