PartyGaming Trying To Bring Down Empire Online 5 January, 2009
NEWS
According to a report from Bloomberg, PartyGaming rang in the holiday season with a lawsuit against Livermore Investments Group Ltd.
Two days before Christmas (December 23, 2008), PartyGaming Plc filed a suit against the aforementioned investment group related to a 2006 deal involving Livermore's online gambling wing, Empire Online.
Livermore CEO and Empire Online founder Noam Lanir sold the online gambling business to PartyGaming for $38 million.
A spokesperson from Party told Bloomberg that a financial aspect of the 2006 deal was not met which prompted the suit and although the spokesperson declined to go into specifics, did say that the amount was in the "six-figure" mark.