Pirate Bay Purchase Sinking
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http://www.wired.com/threatlevel/2009/09/pirate-bay-purchase-sinking/
The company planning to purchase The Pirate Bay was de-listed from its Swedish stock exchange after concluding Thursday it duped investors and regulators in the $8.5 million deal.Threat Level has repeatedly questioned Global Gaming Factory’s intentions of turning the world’s most notorious BitTorrent tracker into a legitimate, pay-to-play site. Now, exchange AktieTorget permanently barred the Swedish-based software concern, casting doubt on how company chief Hans Pandeya would pay for the Bay.
Most investors (if there were any) backed out, and Pandeya promised to use his majority stake, or perhaps issue new shares, to shore up financing. Authorities are also iinvestigating possible insider trading ahead of this summer’s announcement of the pending deal.
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