Thursday, July 31, 2008

Greenspan: We're Still Suing MySpace

Brad Greenspan, former founder of eUniverse, the parent firm of MySpace, said today that a U.S. District Court Federal Judge has ordered a stockholder class action lawsuit against the firm to proceed to trial. According to a statement released by Greenspan, Federal Judge George H. King has denied a motion to dismiss the complaint, which alleges that owners of eUniverse were "defrauded of billions of dollars in potential profits from the unlawful sale" of eUniverse and MySpace to News Corp. The lawsuit, Jim Brown V. Brett C. Brewer, names venture capital firm VantagePoint Partners, as well as former eUniverse directors Brett C. Brewer, Daniel L. Mosher, Lawrence Moreau, Christopher S. Lipp, James Quandt, William Woodward, Richard Rosenblatt, David Carlick, and Andrew Sheehan, as defendants. Greenspan has been engaged in a number of lawsuits since the sale of Intermix to News Corp.

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