Myspace former high-level cheating trial is to start

This IT news is provided from the SK Net Service Company Ltd

According to foreign media reports, Myspace Intermix the original owner of several high-level accused in the transfer of Myspace in the process of fraud, making damage to the interests of shareholders. The defendant asked the court rejected the prosecution, but the court did not receive support.

The case will soon stand trial.

Several of the plaintiffs alleged Intermix executives, several venture capital firms in the transfer of Myspace site in the process of deceiving investors, the transfer of 580 million U.S. dollars to shareholders of the price of billions of dollars in losses.

This month 14, accused of judicial motion to dismiss the court proceedings. But this request was the central California district court judge refused to Qiaozhi Ken.

The original chairman of Intermix, in this case the plaintiff Greenspan Thursday issued a statement saying: "I know that the company's value is several billion dollars, but the management of Intermix Myspace conceal the true financial data, deprived of the right of shareholders to assess Myspace Site value of the opportunity. "

Greenspan said that the upcoming trial of the case, the truth will be revealed.

Intermix case, the defendants include the former CEO Richard Rosenblatt, the former president, Intermix and the venture capital firms VantagePoint.

At present, the three defendants in this case did not make any comment.

To protest against News Corp. and Murdoch acquired Myspace site, Greenspan made a series of efforts, this time the request was rejected defendant Greenspan made a small victory.

2006, Greenspan has said that he refused to buy Intermix Murdoch in his difficult to control the shares, but the board failed to obtain the vote of support.

It is well known that Murdoch acquired Myspace 580 million U.S. dollars acquisition of the Internet has become a classic case history, although the specific valuation Myspace difficult to make, but lags far behind the Myspace of the Facebook site is currently the market valuation of more than 15 billion U.S. dollars.