Joined: Apr '11
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An article by Pokerfuse has outlined a $30 million claim against the DOJ by Cardroom International (CI).
CI's claim is based on PokerStars' purchase of Full Tilt's software; something they believe went ahead without their consent.
During the 2001 time Brett Scharf of BH Development recruited Chris Ferguson, Ray Bitar and Howard Lederer to help with the development of their poker software.
By 2003, Ferguson's associates moved to take over BH Development's software, prompting a court case.
The result of this case caused a split between Ferguson's Full Tilt group and BH Development.
Both companies retained the rights to the original software and this lead to the birth of Full Tilt Poker and JetSet Poker (BH Development's online poker site).
JetSet eventually went bankrupt, allowing CI to purchase their software and (allegedly) form an agreement with Full Tilt which prevented the future sale of the software without mutual consent.
Following PokerStars' acquisition of Full Tilt, CI filed a claim which has forced the DOJ to escrow $30 million pending a full legal review process.
Joined: May '08
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Joined: Feb '11
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SORIN...great reporting again mate. This Pokerstars FullTilt story will rumble on for years yet. Where there is money involved there is always someone who wants a piece of the actioon by whatever means!
Joined: Nov '12
Location: Canada
Age: 55 (M)
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G'day mates
I must admit I am torn on this particular issue. I mean we got scum bags trying to sue the US Department of Justice (LMAO) on one side for $30 Million dollars, and on the other side you have the US Government. I mean really which group of low life scum bags do you root for in this case?
Joined: Apr '09
Location: Australia
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Posted by RoninHarper: G'day mates
I must admit I am torn on this particular issue. I mean we got scum bags trying to sue the US Department of Justice (LMAO) on one side for $30 Million dollars, and on the other side you have the US Government. I mean really which group of low life scum bags do you root for in this case?
Be cool mates and good luck on the tables.
Ronin
I always root for the government in these cases, in the in end it is a case of private greed vs the shared wealth of a nation. So do you want $30M to go to a handful of people or to belong to a nation of people?
Joined: Mar '09
Location: Greece
Age: 47 (F)
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And what makes you think that if the government takes the money that it is "peoples" money. If that was the case, then in all nations would have much less poor and starving people. Not to mention homeless etc. But i think you pretty much get the idea.
Joined: Nov '12
Location: Canada
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Posted by Mober: And what makes you think that if the government takes the money that it is "peoples" money. If that was the case, then in all nations would have much less poor and starving people. Not to mention homeless etc. But i think you pretty much get the idea.
G'day mate I am sorry but it does not matter what we do there will alway's be those who are less privilegded then others. There will always be a small minority who will work together to get more then the general masses. They will always succeed over the majority because the majority just refuse to set aside their human nature for greed and misery too work together long enough to actually get ahead. To many want to be in charge and just will not get along with others unless it serves them most.
Joined: Apr '09
Location: Portugal
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Does this means FTP will cost $30 million more to PS than they were expecting? At least that's how i understand this, if true (not wanting to put you in cause, Sorin888, just giving the benefit of the doubt to the place where you found this - it's really difficult to imagine that DOJ have somehow failed on the process of the sell of FTP, even if this just means a small thing that the DOJ didn't took in consideration). It's not that much when looking to the global value, and i also believe they will be showing extremely good results about FTP in the end of 2013, if not paying it all already, at least giving a big boost to all the debt created when the bought was made.
Joined: Nov '12
Location: Canada
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G'day mates
Well i think that PStars will make a profit of the FullTilt brand in 2013. However even if they do not it is a great business move on there part to have purchased their main and best competitor. If it loses money which I truly doubt it will they can still claim all the loses as a tax write off thus making them money on the back end. No matter how you slice it they will make a profit from owning FullTilt.
