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  1. http://www.pokernews.com/news/2011/0...oker-10645.htm

    Seriously hope this doesn't jeopardize the deal in the works to buy out ft and repay US player's money.
     
  2. I saw that and was about to post it as well. To be honest, I thought any class action lawsuit that would have been started would have been against the DOJ (or U.S. Gov't as a whole) and not ftp.
  3.  
    Originally Posted by kmc28 View Post

    I saw that and was about to post it as well. To be honest, I thought any class action lawsuit that would have been started would have been against the DOJ (or U.S. Gov't as a whole) and not ftp.

    Why? The DOJ doesn't owe us any money. They seized money from what they considered an illegal gambling operation. Then they immediately opened up the door for the sites to pay back money owed to US citizens. While I'm disgusted by our government's absurd stance on online poker I certainly can't fault them for me not getting my money back (except in the sense that if there were regulated online poker in the US bullshit like this wouldn't happen). full tilt was a site run by very greedy and irresponsible people and that's why we're in the mess we are with them.
     
    Thread Starter
  4.  
    Originally Posted by adamsapple19 View Post

    Why? The DOJ doesn't owe us any money. They seized money from what they considered an illegal gambling operation. Then they immediately opened up the door for the sites to pay back money owed to US citizens. While I'm disgusted by our government's absurd stance on online poker I certainly can't fault them for me not getting my money back (except in the sense that if there were regulated online poker in the US bullshit like this wouldn't happen). full tilt was a site run by very greedy and irresponsible people and that's why we're in the mess we are with them.

    I don't disagree with you at all really. It's a mess because the ftp people were greedy and irresponsible.

    I probably worded my statement wrong in the previous post. By "I thought" I didn't mean to sound like I thought the DOJ should have had the class action suit filed against them rather than ftp. I just meant that I thought we'd see a suit filed against the DOJ before ftp by the players. The main reason being what you hinted towards in your post--players are pretty disgusted by the government's stance on online poker, so it would be a bold statement to make by challenge the government's policies.
  5. makes sense
  6. not implying things like this arent warranted, but just thinking it's weird that theres all this outrage about ftp defrauding players, license being pulled, being a ponzi scheme, etc... meanwhile it's ho hum, cereus gonna cereus.
    Edited By: Ozzie Jul 2nd, 2011 at 01:13 AM
  7. I read the complaint. It seems well conceived and pretty fact-specific. The facts in the complaint appear to be accurate (based upon what is in the public domain) and show solid understanding of the players and the acts.

    The law firm behind it holds itself out as a class action boutique firm, and likely the firm is a player who knows what they are doing.

    One of the main plaintiffs is Todd Terry, a person with solid credentials in the poker world and a former lawyer in the Northeast.

    Sorry folks. This all looks like a good thing. I hope (and think) that we will get our money back many stages before joining and riding out a class action lawsuit. But the people behind this suit are likely coming from a good place.
     
  8.  
    Originally Posted by s.l. halper View Post

    Sorry folks. This all looks like a good thing. I hope (and think) that we will get our money back many stages before joining and riding out a class action lawsuit. But the people behind this suit are likely coming from a good place.

    I mean, ft has already had the worst punishment they can face: they've been completely shut down. Every minute that goes by they lose thousands in rake. They no longer need incentive or convincing to do whatever they have to do to act like a responsible corporation.

    If the news of yesterday and today is true about ft being sold under the condition US players get their money back then I can't see this lawsuit as doing anything but harm to that tentative deal. Hopefully FT's lawyers are in touch with the group who brought this lawsuit and this situation can be contained before any further damage comes from this. I just want my fucking money back and frankly I don't give a shit how it happens.
     
    Thread Starter
  9. I hope nothing ever comes of this lawsuit. I don't want to have to file for my $20 refund check for being a part of the class action suit (seeing as I have several $k tied up that I'd like back).
    Edited By: MUPokerPlayer Jul 2nd, 2011 at 03:57 AM
  10. Here's a direct link to the lawsuit, by the way:

    http://www.scribd.com/fullscreen/591...95uek7muqweknr
     
  11. Actually thought this would happened sooner. Only makes sense. If I had tons of $$$ tied up on ft I'd be taking whatever legal recourse I could to minimize my losses.
  12. MUPokerPlayer hit the nail right on the head. The plaintiffs in this suit have done a disservice to everyone. This was absolutely horrible timing.
  13.  
    Originally Posted by wickedfamous View Post

    MUPokerPlayer hit the nail right on the head. The plaintiffs in this suit have done a disservice to everyone. This was absolutely horrible timing.

    how do you figure? its not like the "buyers" are unaware that they owe us this money
     
  14.  
    Originally Posted by Iplaythabored View Post

    how do you figure? its not like the "buyers" are unaware that they owe us this money

    The deal to buy ft is apparently not final. Continued bad press for ft can only make ft look like a less attractive investment. Just no need to keep rocking the boat @ this point.

    The lawsuit was filed the same day as the LA Times article came out. It seems to me these four guys who filed the suit weren't aware of the deal going on to sell ft and pay US players back. I'd actually be surprised if anything more came of the suit given the situation that has unfolded (if it continues to unfold the way we all hope it does).
     
    Thread Starter
  15. todd terry is a douche
    and that has nothing to do with this
  16.  
    Originally Posted by MUPokerPlayer View Post

    I hope nothing ever comes of this lawsuit. I don't want to have to file for my $20 refund check for being a part of the class action suit (seeing as I have several $k tied up that I'd like back).

    +1

     
    Originally Posted by adamsapple19 View Post

    The deal to buy ft is apparently not final. Continued bad press for ft can only make ft look like a less attractive investment. Just no need to keep rocking the boat @ this point.

    The lawsuit was filed the same day as the LA Times article came out. It seems to me these four guys who filed the suit weren't aware of the deal going on to sell ft and pay US players back. I'd actually be surprised if anything more came of the suit given the situation that has unfolded (if it continues to unfold the way we all hope it does).

    +2
    Edited By: wackyJaxon Jul 2nd, 2011 at 03:03 PM
  17. I think the lawsuit will expedite things. These players that filed just want their money back. Most class action suits are just looking for a settlement. If ftp said we will pay then they will drop the suit. Why would they want to drag out getting their money and paying attorneys?
    1
  18. The investment deal is the big deal, if we all get paid back the suit will go away.
     
  19. The suit may prevent the investment. Minimally its going to delay it. The investment would mean US players are being paid back as its the only way for them to restore some trust even with new ownership.

    Also at this point I don't see any reputable gaming commission licensing them unless there is a payback plan in place.
  20.  
    Originally Posted by adamsapple19 View Post

    The deal to buy ft is apparently not final. Continued bad press for ft can only make ft look like a less attractive investment. Just no need to keep rocking the boat @ this point.

    Continued bad press will have zero bearing on a potential deal - there are no 'secrets' about the company being unearthed here that the potential buyers don't already know about, and there is no chance that they didn't anticipate the bad press continuing, as well as potential suits.
  21. I hope you are right kellykip.
  22. me too - I can get a couple of nice bags of sticky with the $$ I have in there
  23. I agree with kelly. The only reason that the suit would fuck up the deal is if it alters the valuation of the company. If the investors didnt know specifically about this suit when they reached a tentative deal, they surely knew that such a suit was possible and have factored that into their valuation. It's not like they are going to suddenly wake up and realize full tilt is worth half as much as they previously thought. As the reporting has laid out, the main obstacle right now is the DOJ civil case. And it sounds like the parties involved have a pretty good idea for how much that will cost narrowed down.