Feeds

e-district.net sacks CEO

Writs issued, assets frozen and damages sought

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

The CEO of e-district.net, Steven Laitman, has been dismissed amid allegations that he inflated usage and financial figures at the entertainment dotcom.

On Friday, e-district served an injunction on Laitman alleging that he breached fiduciary and contractual responsibilities.

The British dotcom also froze his assets and is seeking damages.

Laitman was suspended from his post last week after it was discovered that the numbers of registered users, page impressions and revenues reported to investors appeared to have been "substantially overstated".

e-district.net said that it will release the preliminary results of an investigation as soon as it can. The company is unaware of any "misappropriation of funds" from the company.

The fear now is that inflated usage and financial figures might have misled investors when the company floated on the Alternative Investment Market (AIM) last year.

Shares in e-district.net were suspended last week. ®

Related Story

E-district.net CEO accused of inflating figures

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.