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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."
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?