LONDON (Thomson Financial) - Gaming VC Holdings S.A. confirmed it has
reached a settlement in the lawsuit filed against the company by Fort Knox
Consulting LLC in the United States District Court for the District of
Massachusetts.
On Nov 1, 2006, the online casino gaming company had said Fort Knox
Consulting has filed a lawsuit against them in Massachusetts, US, alleging
breach of a commission agreement.
The suit alleged that Gaming VC failed to acknowledge an agreement under
which Fort Knox would receive a commission of 5 percent of the aggregate
consideration for any joint venture, merger, acquisition or stock or asset
purchase or sale transaction with any of 13 identified counterparties.
The suit named CEO Steve Barlow and former director Scott Miller as
individual defendants based on alleged "tortious interference" with the alleged
agreement.
The lawsuit had sought a declaratory judgement on the case as well as
unspecified damaged for breach of the implied covenant of good faith and fair
dealing and alleged violation of the Massachusetts unfair trade practices
statute.
tf.TFN-Europe_newsdesk@thomson.com
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