Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: PartyTime who wrote (13733)	9/10/1998 6:22:00 PM
From: BlueFox	Read Replies (1) \| Respond to of 18444

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.