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Article: $900 Million Class-Action Lawsuit Filed Against Full Tilt Poker

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  1. Dan Dan is online now Administrator

    Posts: 5,247
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    Oct 21st, 2011 (10/21/2011 3:49am)

    You can view the page at http://www.pocketfives.com/content.p...ull-Tilt-Poker
     
  2. Audiopulse Audiopulse is offline

    Naperville, IL
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    Oct 21st, 2011 (10/21/2011 4:06am) in reply to Dan

    cool
  3. suitedaces1012 suitedaces1012 is offline

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    Oct 21st, 2011 (10/21/2011 4:48am) in reply to Audiopulse

    Can someone enlighten an uneducated me on what the point is of all these class-action lawsuits other than the lawyers getting paid. If they have to settle with one of these lawsuits then won't they have to declare bankruptcy, which is the same result as if they can't find investors and have to declare bankruptcy in the context of how much money we will get back in respect to what is owed to us. The lawsuits just decrease the chances of finding an investor. Is this reasoning wrong, after seeing educated plaintiffs such as Todd Terry file this suit I would have to assume I have something wrong with my reasoning, or are they just hoping to speed up the liquidation of their assets in the hope of getting more $ on the dollar when bankruptcy is declared??
  4. Dan Dan is online now Administrator

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    Oct 21st, 2011 (10/21/2011 5:05am) in reply to suitedaces1012

     
    Originally Posted by suitedaces1012 View Post

    Can someone enlighten an uneducated me on what the point is of all these class-action lawsuits other than the lawyers getting paid. If they have to settle with one of these lawsuits then won't they have to declare bankruptcy, which is the same result as if they can't find investors and have to declare bankruptcy in the context of how much money we will get back in respect to what is owed to us. The lawsuits just decrease the chances of finding an investor. Is this reasoning wrong, after seeing educated plaintiffs such as Todd Terry file this suit I would have to assume I have something wrong with my reasoning, or are they just hoping to speed up the liquidation of their assets in the hope of getting more $ on the dollar when bankruptcy is declared??

    I think these lawsuits are to get players their money back. If Full Tilt were to pay everyone back, then a lot of these legal actions would be moot.
     
    Thread Starter
  5. bef99hwk bef99hwk is offline

    Manhattan, KS
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    Oct 21st, 2011 (10/21/2011 5:19am) in reply to Dan

     
    Originally Posted by Dan View Post

    I think these lawsuits are to get players their money back. If Full Tilt were to pay everyone back, then a lot of these legal actions would be moot.

    yeah...sounds bad at first, because you think of two silly guys who depo'd nada on there and hardly played and them getting $900m. Really, they are just going to say if they win, or don't even go to court, that players are getting paid back and then this disappears...or common sense says this. Who knwos in this world tho.
  6. suitedaces1012 suitedaces1012 is offline

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    Oct 21st, 2011 (10/21/2011 6:01am) in reply to Dan

     
    Originally Posted by Dan View Post

    I think these lawsuits are to get players their money back. If Full Tilt were to pay everyone back, then a lot of these legal actions would be moot.


    But they don't have enough capital to pay players back right? So how would they pay players back if they lost the lawsuit? Would they have to declare bankruptcy, does this move players balances up enough in priority of who to pay back first in the event of a bankruptcy and resulting debt reorganization to justify the lawsuit in terms of how it hurts investor interest? Isn't the only way to pay players back according to the uninformed public's best guess through finding an investor?

    And has todd terry responded to any of these questions or provided a response that I could get a link to? Assuming he is reading these boards, will you provide the uneducated public as to what you see are the benefits of filing a class action lawsuit since you have studied law and have done your due diligence on this subject
    Edited By: suitedaces1012 Oct 21st, 2011 at 06:05 AM
  7. Gforce786 Gforce786 is offline

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    Oct 21st, 2011 (10/21/2011 7:22am) in reply to suitedaces1012

    is this a joke? if full tilt had 900m the players would have been paid back along time ago. it is just filthy broke ass lawyers wanting to get cash. the players come first if there is a deal. F these lawsuits you aren't going to get paid through lawyers. lawyers fees would be so high, you would probably get 10% of your funds and 90% will go to lawyer fees.
  8. Gags30 Gags30 is offline

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    Oct 21st, 2011 (10/21/2011 7:27am) in reply to Gforce786

    ya i mean this is obviously retarded.it's not like full tilt has boatloads of money sitting around and they're just not paying out...they have no money...where is the money to pay players supposed to come from?
    170 2 

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  9. double_kyan double_kyan is offline

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    Oct 21st, 2011 (10/21/2011 8:15am) in reply to Gags30

    now bernard has another hurdle too tackle in california,if he bails on this investment , u can blame this lawsuit!!
    Edited By: double_kyan Oct 21st, 2011 at 08:16 AM
     1
  10. More Cowbell More Cowbell is offline

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    Oct 21st, 2011 (10/21/2011 12:45pm) in reply to double_kyan

    This lawsuit to me sounds like a druggie suing his drug dealer for shorting him on a bag. Doesn't this lawsuit open the plaintiffs up for being punished for breaking the law (yes, a stupid law that we all broke... but a law nonetheless)?

    My thoughts on this whole poker thing has been that while it sucks that they took our money, we all did get what we deserved. We all willingly put our money on something that we knew was 1) illegal and 2) slightly rigged (see UB's nionio).

    Just my two cents, well only one as FTP has my other.
  11. 13inches 13inches is offline

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    Oct 21st, 2011 (10/21/2011 2:36pm) in reply to More Cowbell

    The bazaar part of this story is plantiff Greg Omotoy is owed $10 by FullTilt. I hope he gets his money.
  12. mcandrews3rd mcandrews3rd is online now

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    Oct 21st, 2011 (10/21/2011 2:40pm) in reply to Gags30

     
    Originally Posted by Gags30 View Post

    ya i mean this is obviously retarded.it's not like full tilt has boatloads of money sitting around and they're just not paying out...they have no money...where is the money to pay players supposed to come from?

    exactly this, cant they use their common sense allow full tilt a few years to get back on track under new management and maybe after making some revenue they will be able to pay every1 back. except for going into lederrers etc bank accounts an taking the money I dont see how any of this helps the players ......... which i assume is what they are trying to do
    183 1
  13. ryanzeman ryanzeman is offline

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    Oct 21st, 2011 (10/21/2011 4:33pm) in reply to mcandrews3rd

    Rule one of poker...Don't tap the glass and scare away the fish...Why do anything to scare away these potential whales?...ooopppsss ....I mean investors
  14. cswidler cswidler is offline

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    Oct 21st, 2011 (10/21/2011 4:34pm) in reply to ryanzeman

    they fingered Ferguson though
    190 
  15. ieatsquirrels ieatsquirrels is offline

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    Oct 21st, 2011 (10/21/2011 8:05pm) in reply to cswidler

    Class act lawsuits are normal in this situation. It might take years to see just a percentage of the outcome but its still the lawful way to recoup ur losses.

    And for depending on Tapie to purchase the site and pay back everyone is a stretch. I hear if u dont have $10k in your account he's not even planning on paying u back.

    http://www.tightpoker.com/news/ftp-t...-nothing-2916/
  16. Unbay2k4 Unbay2k4 is offline

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    Oct 21st, 2011 (10/21/2011 8:31pm) in reply to ieatsquirrels

    Class Action Suits stop terrible companies "e.i. Fulltilt Poker" from ever recovering. Personally just tell me where to sign it. I lost over 60k on this crooked site and am a plus EV player across all other sites. I didn't have any money on there recently but I think they owe me for everything I lost.
     
  17. iamthedeck ftw iamthedeck ftw is offline

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    Oct 21st, 2011 (10/21/2011 9:30pm) in reply to Unbay2k4

     
    Originally Posted by Unbay2k4 View Post

    Class Action Suits stop terrible companies "e.i. Fulltilt Poker" from ever recovering. Personally just tell me where to sign it. I lost over 60k on this crooked site and am a plus EV player across all other sites. I didn't have any money on there recently but I think they owe me for everything I lost.

    lol wut? you think the site's rng is rigged?
     
  18. whohee whohee is offline

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    Oct 21st, 2011 (10/21/2011 9:52pm) in reply to whohee

    My fave is still the ole 2x gtd multi entry week right after the ftops right before the shutdown.
     
  19. MidEGambler MidEGambler is offline

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    Oct 22nd, 2011 (10/22/2011 1:01am) in reply to whohee

    MID YEAR BONUS ..........yea thats real
     
  20. Sagacious Man Sagacious Man is offline

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    Oct 23rd, 2011 (10/23/2011 5:42am) in reply to MidEGambler

    <quote>Kennedy is owed $120,000 from Full Tilt, while Omotoy is owed $10.
    </quote>
    lol
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