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Infinium Finds Itself In, Out Of Court Again

Posted by CowboyNeal on from the proving-hardocp-right dept.

Dachannien writes "Adrenaline Vault reports that Infinium Labs is being sued by Terry Nagy for fraud and breach of contract. Infinium used his reputation and expertise in the gaming industry to generate attention for Infinium's Phantom Game Console (and $15M in venture capital), promising him payment in stock. Nagy claims that when Infinium was later bought by a shell company and went public, he had received nothing while Timothy Roberts and Robert Shambro (also named in the suit) got millions of shares of stock." However, GamePro is now reporting the lawsuit is being settled out of court, and that "both parties are working together to resolve the claims."

33 comments

  1. Phantom Indeed... by Evanrude · · Score: 4, Interesting

    I guess this just goes to show *again* the kind of folks behind Infinium labs...
    I can't believe they are even still around, with all the negative press they get, just give up and go home!

    Of course, I guess if you're raking in millions of dollars and have no scruples, keep it up...

    --

    ~.Evanrude
    1. Re:Phantom Indeed... by art123 · · Score: 5, Informative

      At least they have a real address now. I'm from Sarasota and I was very suprised the other day to see that Infinium's name (in 2 foot tall letters) is on the side of an office building downtown. This is a bank office building with many law firms and financial services firms, but only Infinium and the bank have their logo on the building. I wonder how much of their venture capital they spent on that?

    2. Re:Phantom Indeed... by Neophytus · · Score: 1

      could you snap a photo for us? see if you can get up to their reception desk and ask to talk to someone :)

  2. i wonder by bendsley · · Score: 1

    I wonder how this might affect the suit, if at all with HardOCP Labs?

    see here for story

    --
    Alcohol & calculus don't mix. Never drink & derive.
    1. Re:i wonder by PktLoss · · Score: 4, Insightful

      I don't think it will directly effect the case at all.

      Though since court papers become public record, the filings presented in the case may contian information that HardOCP can use to back up their story.

      --
      paul reinheimer
    2. Re:i wonder by Torgo's+Pizza · · Score: 1
      Only the petition was filed. No depositions or supporting documents were entered as evidence. If the settlement goes through and Terry Nagy signs a NDA then he will be little help to the [H]ardocp case. No one really knows what information he has or what help he can be other than possibly supporting the initials claims against Tim Roberts.

      That being said, I do know that the [H] lawyers have copies of the original petition and only erodes Infinium's current claims in court.

      While I'm at it, there is the small beginnings of an organized protest against IL at E3. Where is Phantom?? is encouraging people to wear this T-Shirt at the convention as a way of supporting free speech. You have to see the back to really understand.

  3. What about the March 31st pre-orders? by Toxygen · · Score: 4, Interesting

    If you look on www.phantom.net they say that their online store will be open on the 31st of March, but there's not a single spot on the site where you can actually click through to an order page. C'mon, even my grandparents could spot this company's worth and they don't have two clues about this industry. If you're dumb enough to give these guys money, consider that your fine for being stupid.

    1. Re:What about the March 31st pre-orders? by Genin · · Score: 4, Funny

      I actually convinced a friend to preorder. I can't wait to see how satisfied he is when he recieves his purchase ;)

      --
      I am forced to conclude you are the master of the obvious. May others take heed of your wisdom.
    2. Re:What about the March 31st pre-orders? by Wuukie · · Score: 1

      Now there's a real friend. If you haven't already done so, you should make him pre-order Duke Nukem Forever too.

    3. Re:What about the March 31st pre-orders? by Genin · · Score: 1

      Oddly enough he did that over a year ago. All by himself no less.

      --
      I am forced to conclude you are the master of the obvious. May others take heed of your wisdom.
  4. Such a disappointment by Rallion · · Score: 5, Funny

    Anybody else really wish this wasn't being settled out of court? I'd love to follow that case.

  5. Duh by sreeram · · Score: 4, Funny

    It's Timothy Roberts and Robert Shambro.

    These geniuses picked the name "Phantom". Their parents didn't pick good names either.

    1. Re:Duh by analog_line · · Score: 1

      These geniuses picked the name "Phantom". Their parents didn't pick good names either.

      Yeah, it's made me wonder many a time if this wasn't a scam from second one. Kind of like calling your law firm, "Dewey, Cheetham, and Howe."

  6. Nothing new here. by kinema · · Score: 0

    Say it with me guys, "pump and dump".

  7. They know the dance steps... by stienman · · Score: 4, Funny

    Infinium Finds Itself In, Out Of Court Again

    Then you shake it all about! You do the hokey-pokey and you turn your stock around, that's what it's all about!

    -Adam

  8. Interesting thing about the website. by Beeswarm · · Score: 5, Interesting
    If you go to the phantom.net website, there's a link on the left that says Join the Phantom Forum Community!

    Click on it, and the result is a 404 Not Found error.

    Did they know I was going to go there to talk trash about the Phantom console? And why would they choose to open the site with a sound clip of someone saying "Warning?" Who are they warning against what?

    1. Re:Interesting thing about the website. by Dachannien · · Score: 3, Funny

      Actually, the server was merely being honest when it noted that the community for the Phantom was 404 Not Found.

  9. Phantom reviews will be AWSOME! by dswartze · · Score: 2, Insightful

    You know, if this thing ever does actually get released, it should have some pretty nice reviews. The gaming industry is all too often plauged with people expecting too much out of something. When (if) Half-Life 2 comes out it will likely be met with many a "sure it's good, but I thought it was going to be better, not worth all the hype and the wait." This things going to come out (actually probably not, but let's just pretend here) and everyone's going to be like "well it sucks, but it's many many times better than I thought it was going to be so it gets a passing mark in my book" and all of a sudden good reviews

    1. Re:Phantom reviews will be AWSOME! by hambonewilkins · · Score: 1
      Oh yes, I remember the same thing happening with "Waterworld." People dogged the movie for months and then were pleasantly suprised when it was released. You know, critics have a good habit of eating their words and admitting: "Hey, I dogged it for months, but its actually pretty good."

      Wait, actually, no... that didn't happen with Waterworld.

      --

      God Bless America. Why? Did it sneeze?
    2. Re:Phantom reviews will be AWSOME! by ArmpitMan · · Score: 1

      Just like the N-Gage!

  10. Let me use my amazing powers of prediction. by Ayanami+Rei · · Score: 1

    No.

    Sorry to burst your bubble, but when this much bullshit plagues a company before launching a product or service, you can pretty much set your watch for total implosion.

    --
    THIS THING CAN TURN ON A DIME, MACROSSZERO STYLE ALSO FUCK BETA, ~NYORON
  11. Explain, please. by Anonymous Coward · · Score: 0

    Okay, so all the slashdrones know by now that it's a con. What would it take for the average anonymous coward with no scruples (as far as bilking stupid investors goes, anyway) and a working-class level income to make a nice little profit on this charade? That's all I really want to know; how can a poor geek catch a break?

    1. Re:Explain, please. by Anonymous Coward · · Score: 0

      Okay, you convinced me. I'm going to Ebay to sell some Phantom consoles.

  12. Hmm... by CelticWhisper · · Score: 5, Funny

    I wonder what the settlement will be? Kinda reminds me of a Dilbert comic.

    PHB: You're being appointed president of our dot-com division. Your job is to go in and fire everyone.
    Dilbert: Do I get a raise?
    PHB: How does a billion shares of stock sound?


    --
    Help protect civil rights from abuse by the TSA - visit TSA News Blog.
    http://www.tsanewsblog.com
  13. I wouldn't say that.... by Anonymous Coward · · Score: 0

    while their names might not be good by some abstract assesment, they certainly are acurate.

  14. Phantom is the right name by Sylven_1969 · · Score: 0

    Phantom is right, as in a "phantom item, aka one that does not exist". I would say if the guy pumped 15million into something of that name then he deserves to lose his money. The web site broadband side was a nice flash page of the machine... course it's phantom also since no buttons or anything else was active on the page. Really expected this one to say something about an April 1st release ;)

    --
    Jay Dale "If you're not living on the edge then you're taking up too much space!"
  15. Infinium labs... by Anonymous Coward · · Score: 0, Redundant

    This pretty much sums up what I think about infinium labs.

  16. I've this brand of Snake Oil before by inkless1 · · Score: 1

    And get used to this statement:

    "Nagy claims Roberts and Shambro netted millions of shares of stock but he received nothing."

    Because a lot of people are going to be saying similar things about this company. It's the dotcom strategem of converting ideas into cash without having to back them up.

  17. Looking for a cool job? by cleancut · · Score: 1
    Infinium has been trying to hire an admin for a bit more than a week now. Sign up fast!

    Oh...and you'd better have lots of Linux experience, and love dealing with Exchange and IIS.

    1. Re:Looking for a cool job? by Anonymous Coward · · Score: 2, Funny

      "Minimum of 5 years experience with all Microsoft Windows operating systems, A/D, Exchange 2000/2003, and Security"

      I don't think AD, Exchange 2000 or 2003 have been out for 5 years. I wonder if XP and 2003 Server are also included in "all Microsoft Windows operating systems."

      I guess I shouldn't be surprised after reading their letters to HardOCP.