Online gaming operator initiates action in London over 2006 acquisition of Internet gambling business Empire Online.
Wednesday 7th January 2009
Leading online gaming operator PartyGaming, the firm behind popular online poker domain PartyPoker.com, has filed a lawsuit against Livermore Investments Group Limited.
The action was filed in London on December 23 according to a report from news service Bloomberg.com and surrounds PartyGaming’s 2006 takeover of Livermore’s Internet gambling business at Empire Online.
According to Bloomberg.com, Gibraltar-based PartyGaming alleges that Livermore ‘failed to deliver a certain amount of income under an acquisition made three years ago’.
British Virgin Islands-registered Livermore previously operated as the online gaming firm Empire Online until PartyGaming purchased its gambling business for $38 million. Livermore is run by Chief Executive Officer Noam Lanir and changed its name following the sale before beginning operations as an investment business.
According to John Shepherd, spokesperson for PartyGaming, the value of the claim is ‘six figures’ but he declined to give additional details.
PartyGaming was also in the news late last month after its largest shareholder, India-born Anurag Dikshit, pled guilty to in a New York court to violating sections of the 1961 Wire Act. Thirty-seven-year-old Dikshit helped start PartyGaming in 1997 by creating its software platform and agreed to pay $300 million in fines and assist authorities with their investigations while awaiting sentencing in two years.
Leading online gaming operator PartyGaming, the firm behind popular online poker domain PartyPoker.com, has filed a lawsuit against Livermore Investments Group Limited.
The action was filed in London on December 23 according to a report from news service Bloomberg.com and surrounds PartyGaming’s 2006 takeover of Livermore’s Internet gambling business at Empire Online.
According to Bloomberg.com, Gibraltar-based PartyGaming alleges that Livermore ‘failed to deliver a certain amount of income under an acquisition made three years ago’.
British Virgin Islands-registered Livermore previously operated as the online gaming firm Empire Online until PartyGaming purchased its gambling business for $38 million. Livermore is run by Chief Executive Officer Noam Lanir and changed its name following the sale before beginning operations as an investment business.
According to John Shepherd, spokesperson for PartyGaming, the value of the claim is ‘six figures’ but he declined to give additional details.
PartyGaming was also in the news late last month after its largest shareholder, India-born Anurag Dikshit, pled guilty to in a New York court to violating sections of the 1961 Wire Act. Thirty-seven-year-old Dikshit helped start PartyGaming in 1997 by creating its software platform and agreed to pay $300 million in fines and assist authorities with their investigations while awaiting sentencing in two years.