Feeds

e-district.net sacks CEO

Writs issued, assets frozen and damages sought

  • alert
  • submit to reddit

Remote control for virtualized desktops

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

Remote control for virtualized desktops

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.