You're missing it, BlueFox. You see, how could the former SIMers even know such a thing? If you look at the date of the sale and the date of the lawsuit, there wasn't even enough time for the SIMers to even make a determination of this kind, never mind a fullscale judgment.
How's that? If the sale was January, and the suit was filed in April, surely that's enough time.
The plaintiffs allege that Softbank Interactive's former parent,
Softbank Holdings, its sister company Ziff-Davis, and three directors
engaged in "fraudulent, self-interested, conflict-ridden, and
irresponsible actions" that ultimately stripped the value right out
of the online advertising firm. Three of the plaintiffs were founders
of Softbank Interactive Marketing (SIM), recently rechristened
ZuluMedia.
Additionally, the suit alleges that the sale of Softbank
Interactive to Zulu-Tek, a little known Net advertising firm based in
Newport, Rhode Island, put Softbank Interactive "into the hands of a
company that proceeded to mismanage the business and misappropriate
its assets, all to plaintiffs' and SIM's severe financial detriment."
The basis of the suit appears to be that they were inappropriately sold to ZULU. |
