Results 1 to 1 of 1

Thread: Worldspace: potential problems grow

  1. #1
    Senior Member
    Join Date

    Worldspace: potential problems grow

    Worldspace: potential problems grow

    Chris Forrester ©RapidTVNews | 08-07-2010

    worldspaceThe Class Action against Worldspace and some former directors and advisors looks like slowing down the final asset transfer to new owner Noah Samara. A filing on July 7 to the Delaware Bankruptcy Court stated politely but bluntly that “[Worldspace’s] arguments have no merit”.

    The Class Action against Worldspace has been running for a number of years and alleges that Worldspace inflated [“misrepresented”] their subscriber numbers in their IPO prospectus back in August 2005. Worldspace is attempting to deny lawyers for the Class Action further access to its past documentation at this time.

    Worldspace is arguing that it has already allowed the Class Action lawyers access to 13,000 pages of documents. The Class Action lawyers argue that all the required documents are easily available on an existing disc, and should now be handed over for examination.

    The Delaware Bankruptcy Court has slipped the date of the upcoming ‘Omnibus Hearing’ on Worldspace from July 12 to July 16.

    © Rapid TV News 2010
    Attached Images Attached Images

Similar Threads

  1. Replies: 0
    Last Post: 05-11-2009, 18:58:38
  2. Lowered restrictions greatly expand SAT-7’s potential audience
    By sofien72tu in forum Daily Satellite TV News
    Replies: 0
    Last Post: 08-10-2009, 16:22:59
  3. Update Worldspace ‘potential bidders’ lining up
    By <<ELVIS>> in forum Daily Satellite TV News
    Replies: 0
    Last Post: 04-01-2009, 20:28:38
  4. New Worldspace India plan hits problems
    By <<ELVIS>> in forum Daily Satellite TV News
    Replies: 0
    Last Post: 16-11-2008, 11:33:49

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts