Infinium Finds Itself In, Out Of Court Again 33
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."
Phantom Indeed... (Score:5, Interesting)
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...
Re:Phantom Indeed... (Score:5, Informative)
Re:Phantom Indeed... (Score:2)
i wonder (Score:1)
see here for story [gamespot.com]
Re:i wonder (Score:5, Insightful)
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.
Re:i wonder (Score:2)
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
What about the March 31st pre-orders? (Score:5, Interesting)
Re:What about the March 31st pre-orders? (Score:4, Funny)
Re:What about the March 31st pre-orders? (Score:1)
Re:What about the March 31st pre-orders? (Score:1)
Such a disappointment (Score:5, Funny)
Duh (Score:5, Funny)
It's Timothy Roberts and Robert Shambro.
These geniuses picked the name "Phantom". Their parents didn't pick good names either.
Re:Duh (Score:2)
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."
Nothing new here. (Score:1)
They know the dance steps... (Score:5, Funny)
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
Interesting thing about the website. (Score:5, Interesting)
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?
Re:Interesting thing about the website. (Score:4, Funny)
Phantom reviews will be AWSOME! (Score:2, Insightful)
Let me use my amazing powers of prediction. (Score:2)
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.
Re:Phantom reviews will be AWSOME! (Score:2)
Wait, actually, no... that didn't happen with Waterworld.
Re:Phantom reviews will be AWSOME! (Score:1)
Hmm... (Score:5, Funny)
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?
I've this brand of Snake Oil before (Score:2)
"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.
Looking for a cool job? (Score:1)
Oh...and you'd better have lots of Linux experience, and love dealing with Exchange and IIS.
Re:Looking for a cool job? (Score:2, Funny)
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.