Penthouse Sued Over AFF Acquisition

[Toby]

LOS ANGELES — Broadstream Capital Partners, a merchant bank that assists with mergers and acquisitions, has filed a lawsuit against Penthouse Media Group Inc. The suit alleges Penthouse breached a contact to acquire Various Inc. full story... (http://www.xbiz.com/news/90958)

[Rcourt64]

"...breach of the covenant of good faith and fair dealing, breach of fiduciary duty and constructive fraud"Does anyone truly believe thats actually gonna fly?

It its complaint, Broadstream asserted that during the bidding process, Broadstream “learned that Penthouse directly contacted Various to put in a separate bid,” and “ultimately submitted a bid that was higher than the offer from Broadstream and converted this business opportunity from an opportunity for the joint venture to an opportunity for Penthouse alone.”Prove it.

[RawAlex]

Not hard to prove, actually. If there is a non-disclosure agreement, then there is no way that Penthouse should have had any contact with Various at any time, and certainly not while using confidental information regarding the initial bid.

I am thinking that this is going to make the Penthouse IPO just a little more difficult, considering their prime web property (and likely rare source of profit at this point) is in dispute.

[gonzo]

Hahahahaha this just keeps getting better!

Mark Bell is just as dirty as AFF!

[EmporerEJ]

I am thinking that this is going to make the Penthouse IPO just a little more difficult, considering their prime web property (and likely rare source of profit at this point) is in dispute.

Yes, and isn't the timing of this suite a little suspicious?

"Pay us or else we make mud." That's what it sounds like to me.

This is precisely why I'm suspicious of making ANY deals with most adult companies. Seems everyone is always trying to screw each other. (Pun, while funny, not intended)

[Toby]

...Seems everyone is always trying to screw each other.

Yup, keep the lube handy and don't drop the soap. :blink:

[RawAlex]

Yup, keep the lube handy and don't drop the soap. :blink:

In the adult world, the soap dispensers give out lube and the soap is stored on the floor. It just simplifies the process.

[Sexyteaser]

Well I am not suprised one bit. I thought that Penthouse would end up suing AFF but this may be the beginning of something bigger.

[Rcourt64]

Well I am not suprised one bit. I thought that Penthouse would end up suing AFF but this may be the beginning of something bigger.

So where do you keep the soap at?