I dunno if legal action is the right move here or just good money after bad.
The real question is whether there is something to be gained or if it is "blood from a turnip". IBD clearly has assets as a public company. But unless they are very foolish, they more than protected them before doing the acquisition.
The other question is can they recover? How's their merchant account status? We can only speculate. Best I recall they were trying to hook up with the same bank that CCBill and Epoch use. If that's the case, as an industry that scares the shit out of me as it means all of the eggs are in one basket regardless of whether you're diversified across multiple processors.
Whose left in the US that would take iPSP adult action? My guess is no one.
Epoch dug themselves a similar hole and recovered from it. But that was a very different time.
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