According to Fort Knox Consulting, Gaming VC failed to uphold its end of an agreement regarding the payment of five percent commission on the merger and acquisition work done by Fort Knox Consulting.  Fort Knox Consulting filed the suit in the district court of Massachusetts and is seeking unspecified damages.

The Fort Knox suit names Gaming VC CEO Steve Barlow and former director Scott Miller as defendants based on “alleged torturous interference with the alleged agreement”.  Steve Barlow has since resigned but Gaming VC has denied any connection between Barlow’s resignation and the legal suit brought against the company.  A Gaming VC spokesperson also said that the company intends to “rigorously defend the suit”.
Barlow’s resignation will take effect immediately, although he will remain with the company as a non-executive director.  The spokesperson also said that the lawsuit “did not spur the board change”.  He further added: “The share price has taken a hammering of late. Barlow is a major shareholder and he thought it was time for a change at the top.”

Posted on: November 20, 2006

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