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Toby	03-10-2008 08:35 PM

Penthouse Sued Over AFF Acquisition

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...

Rcourt64

03-10-2008 08:54 PM

Re: Penthouse Sued Over AFF Acquisition

Quote:

"...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?

Quote:

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

03-10-2008 09:23 PM

Re: Penthouse Sued Over AFF Acquisition

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

03-10-2008 09:49 PM

Re: Penthouse Sued Over AFF Acquisition

Hahahahaha this just keeps getting better!

Mark Bell is just as dirty as AFF!

EmporerEJ

03-11-2008 07:08 AM

Re: Penthouse Sued Over AFF Acquisition

Quote:

Originally Posted by RawAlex (Post 807662)

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	03-11-2008 07:40 AM

Re: Penthouse Sued Over AFF Acquisition

Quote:

Originally Posted by EmporerEJ (Post 807683)

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

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

RawAlex

03-11-2008 11:51 AM

Re: Penthouse Sued Over AFF Acquisition

Quote:

Originally Posted by Toby (Post 807685)

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

03-11-2008 01:42 PM

Re: Penthouse Sued Over AFF Acquisition

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

03-11-2008 02:43 PM

Re: Penthouse Sued Over AFF Acquisition

Quote:

Originally Posted by Shelleehale (Post 807709)

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?

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