Feeds

Pirate Bay suitor shoved off Swedish stock exchange

Global Gaming Factory given marching orders

Beginner's guide to SSL certificates

The Swedish stock exchange has kicked the proposed buyer of The Pirate Bay off its trading floor.

AktieTorget confirmed (in Swedish) late yesterday that Global Gaming Factory X AB (GGF) had been excluded from the exchange with immediate effect.

It said GGF had “seriously violated AktieTorget’s requirement that listed companies should ensure that the information is accurate, relevant and reliable” under the stock market’s so-called “transparency principle”.

A disciplinary committee reached the decision after suspending trading in the company following GGF’s announcement in June that it planned to buy the notorious BitTorrent tracker site for 60m kronor (£4.7m).

That surprise move came just two months after four men were sentenced to prison and fined £2.4m for their involvement in the operations of The Pirate Bay.

Officials at Sweden’s exchange alleged that GGF was guilty of “serious infringements”.

“They give a systematic impression of a lack of accountability and of an almost casual and unsuspecting approach to including the disclosure requirements,” said the committee.

AktieTorget’s board said it was disappointed that GGF had “misled the market” by failing to adequately disclose details of its business arrangements with traders.

Late last month GGF’s boss Hans Pandeya insisted that the acquisition would go ahead after he won the backing of company shareholders, even though the outfit’s trading had been halted by AktieTorget officials since 21 August.

Over the months since GGF first put forward its ambitious bid to buy The Pirate Bay, some of its investors have walked, after the company failed to explain how it planned to fund the acquisition.

Despite the latest action by Sweden’s stock exchange, Pandeya remains defiant that his firm will indeed buy TPB.

He has already declared that, if necessary, the acquisition will be paid for out of his own pocket if faceless investors, that Pandeya claims have backed the deal, suddenly vanish.

Yesterday he repeated that declaration to the Associated Press. He also branded AktieTorget officials “incredibly scared” and “very weak people.”

Meanwhile, GGF is no longer displaying press releases on its website. ®

Security for virtualized datacentres

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
NATO declares WAR on Google Glass, mounts attack alongside MPAA
Yes, the National Association of Theater Owners is quite upset
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.