Infinium Finds Itself In, Out Of Court Again

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."

Comments

Such a disappointment

[Rallion]

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

Re:What about the March 31st pre-orders?

[Genin]

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

Duh

[sreeram]

It's Timothy Roberts and Robert Shambro.

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

They know the dance steps...

[stienman]

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

Hmm...

[CelticWhisper]

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?