FindWhat on the Ropes

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Source Title:
FindWhat Hit With Class Action
Story Text:

John Battelle points out the legal difficulties afflicting FindWhat. To add to their worries, they've just been hit with a class action suit claiming they overpromoted themselves and their stock....

Comments

 

They made a mistake when they counted on Google's legal team to fight the patent and win a legal precedent for them. They were hoping that Google would pay for all of that expensive legal help.

I expect the stock will continue to fall, but it is starting to look like a bargain. Their market capitalization is falling below $145 million. One of the big guys could offer to buy them out with a stock swap.

FindWhat.com Calls for Lawsuit Dismissal

Forbes, Business Week and others are reporting that FindWhat have called for the dismissal of the law suits.

Quote:
The company said in a statement that there is no merit behind the string of lawsuits filed within the past week. Further, FindWhat.com said it will stand by the company's executives.

"We are entirely comfortable with the appropriateness and completeness of our disclosures and the actions of our executives and directors in the performance of their duties for FindWhat.com, and we believe the claims should be dismissed," Chairman and Chief Executive Craig Pisaris-Henderson said in a statement.

We'll see....

 

Nothing would surprise me from a company that paid $170million for Espotting.

Don't get me wrong, we deal with Espotting and they have their merits but I think they were seriously over-valued at that amount.

It has always amazed me where FindWhat get their cash from. As far as I know they don't have much of a market-share in US. We tried some PPC out with sometime back and they were dreadful; crap traffic that didn't convert, low volume of traffic.

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