Thursday, October 1, 2009

Info-Biscuits | Glu Mobile & GetFugu

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, 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.

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 It turns out that SpongeTech, which rescinded it's $4mil investment in the company last Thursday, announced today that it is filing suit against GetFugu for “breach of contract, breach of fiduciary duty,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.

1 comment:

    A bit of research is very beneficial... Let us all be aware of bad business and report this news!!!

    its all over the web...

    Stein Bagger got his scam partner Swede Mikael Ljungman to pay 1.4 million. U.S. dollars, which he had put down as a deposit to build a new luksusbåd yacht at an estimated cost of 52 million. kr ...with international building company Sunseeker.

    Mikael Ljungman did not spend his own funds but instead he did in fact get his friend and business partner Carl Freer in the US company Media Power to be responsible for the deposit payment.

    It appears that several letters were sent to the newspaper Børsen shwoing a direct connection between Mikael Ljungman, Carl Freer and others in control at the head of Media Power.

    According to the material on 3rd September 2008 1.Media Power paid over 4 million. dollars to boat company Sunseeker AG. The payment came from an account belonging to Media Power's subsidiary ; Ecommerce.

    Ecommerce was previously owned by Mikael Ljungman alone but in February 2008 was purchased by his business partner Carl Freer of the US company Media Power.

    After the whole IT Factory affair exploded in December 2008 Media Power tried unsuccessfully to get the one million down payment made to Sunseeker back from yacht company bådfirmaet.
    But according to an e-mail to Carl Freer, Seen by both curator Boris Frederiksen Prosecutor for Serious Economic Crime and newspaper Børsen: Sunseeker did not repay the money.

    Read the whole article in Børsen.