1st Nov 2006 07:30
Gaming VC Holdings S.A.01 November 2006 Press Release 1 November 2006 Gaming VC Holdings S.A. ("Gaming VC" or "the Group") Statement re Litigation The Board of Gaming VC note the recent lawsuit filed against the Group on 24October 2006. The Group was served with a lawsuit filed by Fort Knox ConsultingLLC ("Fort Knox") in the United States District Court for the District ofMassachusetts. The suit alleges that Gaming VC has wrongfully failed toacknowledge an alleged agreement between the Group and Fort Knox whereunder FortKnox would receive a commission of 500 basis points (5%) of the aggregateconsideration for any joint venture, merger, acquisition, or stock or assetpurchase or sale transaction with any of thirteen identified counterparties. The complainant seeks a declaratory judgment as well unspecified damages foralleged breach of the implied covenant of good faith and fair dealing andalleged violation of the Massachusetts unfair trade practices statute, Mass.Gen. Laws c. 93, ss. 1-11. The suit also names Gaming VC's CEO, Steve Barlow,and former director Scott Miller as individual defendants based on allegedtortious interference with the alleged agreement. Gaming VC has engagedcounsel to vigorously defend the suit. - Ends - For further information: Gaming VC Holdings S.A.Adrian Smith, Non-Executive Chairman Tel: +44 (0) 20 7398 [email protected] www.gamingvc.com Media enquiries:AbchurchChris Lane / Franziska Boehnke Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to editors Gaming VC is a key operator in the European online gaming sector, specializingin casino. Gaming VC has no online operations in the US and does not transact any wageringactivity on behalf of players in the United States. Further information on the Company is available at www.gamingvc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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