IdeaLab Investors (Parent Co. of Overture) Sue For 1 Billion!

Some of idealab's biggest investors, including Dell, want their $'s back.

[redzone]

Here's the link to the full article....

[digitalcoastdaily.com...]

[Brett_Tabke]

Wow.

The suit claims that idealab's "'incubator' business is, for all practical purposes, non-existent" and alleges that founder and CEO bill gross and his fiancée, company President Marcia Goodstein, are keeping the operation intact only to benefit financially from salaries and perks. The best course of action for idealab's minority shareholders, it claims, would be for the company to dissolve and distribute the approximately $500 million it has remaining to shareholders.

[Mike_Mackin]

Idealab Investors May Have Tough Time in Court

Lawsuit: Group seeking to dissolve 'incubator' and recoup some money represents less than 10% of shareholders.

LA Times [latimes.com]

[Tapolyai]

For now Mike_Mackin.

Idealab, well shall we say ... sucks. When you discuss investments with venture capitalists, Idealab! is the butt of most jokes.

They lost more money then the GNP of most nations. They miss managed more .coms then Afghans in Cuba. They spent more frivolously then Marcos on her shoe fetish.

So, taking that in consideration there will be a lot of little people who will join this fun fest!

[2_much]

Will this have an impact on Overture?

[ggrot]

Even if idealab goes bust, goto will continue. Somebody will purchase the 'asset'.