Last week, Full Tilt Poker was hit with a second Class Action lawsuit. The first had been submitted six weeks ago by American poker pro and lawyer Todd Terry on behalf of other poker players filing a $150 million lawsuit for players who have yet to receive their money from the site. This later lawsuit is coming from a group of Canadian poker players suing the parent company Pocket Kings Ltd along with several named subsidiary companies. They name just three principle defendants: Howard Lederer, Ray Bitar, and Nelson Burtnick.
The second news piece involved the first visible resignation of senior management at Full Tilt Poker. Chief Marketing Operator Lothar Rentschler resigned indicating...
“I do apologize for the inconvenience the current circumstances at PKL have caused for you personally as well as for your respective companies. Our hands in Marketing were bound and at the end even every communication was stopped. Again, I can only apologize for this situation. The future will hopefully see a better, well organized structure and a return to business as usual. To see the brand FTP going down that way, hurts a lot.”
The third and most recent news comes from Full Tilt Poker themselves through an exclusive release to PokerNews that stated"On August 16, Irish based Pocket Kings Ltd., brand executor for the Full Tilt Poker moniker, concluded the exclusivity period of negotiations with their current potential investor.
While Pocket Kings Ltd. plans to continue discussions with its current investor, the company has now begun negotiations with additional potential investors to conclude the sale/partnership of the Full Tilt Poker brand and its assets.
Full Tilt Poker apologizes for its lack of communication with its customers over the last month and a half, but it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath. In addition, the company has had to be circumspect about disclosing the progress of negotiations with potential investors because there is often a requirement of strict confidentiality.
To the extent that it can do so without jeopardizing future opportunities, Full Tilt Poker will strive to have better communication with its customers going forward. Full Tilt Poker's number one priority remains the same: to secure an infusion of capital to repay all of its worldwide customers."
Opening up the process again to the open market will likely mean further delay for player fund return resolution.While Pocket Kings Ltd. plans to continue discussions with its current investor, the company has now begun negotiations with additional potential investors to conclude the sale/partnership of the Full Tilt Poker brand and its assets.
Full Tilt Poker apologizes for its lack of communication with its customers over the last month and a half, but it has been grappling with unexpected and complex legal and financial issues arising from Black Friday and its aftermath. In addition, the company has had to be circumspect about disclosing the progress of negotiations with potential investors because there is often a requirement of strict confidentiality.
To the extent that it can do so without jeopardizing future opportunities, Full Tilt Poker will strive to have better communication with its customers going forward. Full Tilt Poker's number one priority remains the same: to secure an infusion of capital to repay all of its worldwide customers."
September 15th is the latest that new news will come regarding Full Tilt Poker and their gambling license with Aldernay Gambling Control Commission.
