Just a quick update to my recent posts about GetFugu (GFGU). It turns out that SpongeTech, which rescinded it's $4mil investment in the company last Thursday, announced today that it is filing suit against GetFugu for “breach of contract, breach of fiduciary duty, common law fraud, conversion, willful misconduct and unlawful appropriation of funds.” GetFugu's stock was down 16% on the news.
Thursday, October 1, 2009
MocoNews is reporting that Glu Mobile's (GLUU) SVP of Global Publishing Jill Braff is leaving the company, after 6 years, to join a privately held mystery company as CEO effective October 9th. This follows the announcement by Greg Ballard in July that he was stepping down as Glu's CEO, as soon as a replacement is found (which still hasn't happened), and the departure last month of European MD Frank Keeeling. Jon Jordan, over at PocketGamer.biz, is theorizing that this cluster of departures from Glu's executive suite could signal that a major re-organization or possible sale is in the works.