Pirate Bay acquisition looks rockier than ever
Pirate Bay acquisition looks rockier than ever
Swedish stock market regulators have suspended the trading of Global Gaming Factory X's stock in the Aktietorget marketplace today on the suspicion that the company's reported assets and actual assets may differ.
In June, Global Gaming Factory X made a $7.7 million bid for The Pirate Bay, but authorities today would like assurance that GGF has enough money to complete the transaction.
Peter Gönczi, Vice President and head of market surveillance for Aktietorget issued a statement today which says: "As part of its normal monitoring of listed company information, Aktiestorget requested a full disclosure from Global Gaming Factory to show that funds are in line with its reports...Aktietorget found a lack of conditions for an efficient trade of its shares and decided to suspend trading until the requested information is provided. The halt of daily trading has nothing to do with suspicions of insider trading."
Global Gaming is reported to have numerous outstanding debts, including to former CTO Johann Sellstrom, former ally and ex-Grokster founder Wayne Rosso, and P2P technology company Peerialism.
Irish ISP to block Pirate Bay even as it goes 'legit'
It's not a nationwide ban like the one now in place in the Netherlands, but it may be a step in that direction. Starting September 1, Irish ISP Eircom will block its customers from accessing torrent indexing site The Pirate Bay.
Eircom started working with the Irish Recorded Music Association (IRMA) last February to crack down on P2P music sharing, the result of an out-of-court agreement between the ISP and the "big four" major labels, in order to avoid litigation.
"The settlement reached between the parties provides that the record companies will supply Eircom with the IP addresses of all persons who they detect illegally uploading or downloading copyright works on a peer to peer (P2P) basis," IRMA's site announced earlier this year.
So far, it is the only ISP in Ireland to have responded to the music industry's threats. The Irish Times reports that cable operator UPC and telco BT Ireland have both denied IRMA's request to block The Pirate Bay.
:source: Source: Source 1 | Source 2
