he is suing NCSoft for 24million
and this and thisagain filed in Texas lolol: U.S. District Court in Texas
NCSoft getting sued left and right.
pumpkin pie
apparently Richard Garriot didn't resign.
he is suing NCSoft for 24million and this and this
again filed in Texas lolol: U.S. District Court in Texas
he is suing NCSoft for 24million
and this and thisagain filed in Texas lolol: U.S. District Court in Texas
Karate Jesus
Quote:
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Originally Posted by pumpkin pie
apparently Richard Garriot didn't resign.
he is suing NCSoft for 24million and this and thisagain filed in Texas lolol: U.S. District Court in Texas |
FoxBat
More details needed, but so far, it sounds like they deserve it. Hope Garriot wins some.
Zinger314
http://kotaku.com/5241911/richard-ga...t-for-24000000
http://kotaku.com/5242413/why-richar...s-suing-ncsoft
Seems credible, unlike the Worlds lawsuit.
Man, I think *I* should sue NCSoft, it's the popular thing to do nowadays.
EDIT: Beaten. Albeit my thread title is prettier.
http://kotaku.com/5242413/why-richar...s-suing-ncsoft
Seems credible, unlike the Worlds lawsuit.
Man, I think *I* should sue NCSoft, it's the popular thing to do nowadays.
EDIT: Beaten. Albeit my thread title is prettier.
Sir Skullcrasher
Soooo *this is sarcasm folks*
Can I sue A-Net or NC-Soft for making lame minipets? lol
Can I sue A-Net or NC-Soft for making lame minipets? lol
upier
*shakes fist at the sky*
That'll teach 'em for charging money for the hairdresser!
That'll teach 'em for charging money for the hairdresser!
Karate Jesus
Quote:
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Originally Posted by FoxBat
More details needed, but so far, it sounds like they deserve it. Hope Garriot wins some.
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Regardless of what the "company painted it as", he had 90 days upon termination to retain his stock options and it appears that he forgot that.
Trust me. In a Texas court, he wont get shit. He should have accepted being fired rather than stepping out. And, even if it was voluntary, he legally has 90 days to retain his stock options. Idk why he didn't just do that.
EDIT: If NCSoft did in fact fake his letter, then he'll get something. But his stock options are not going to get reimbursed. That's the law, kiddos.
EDIT 2: (I'm full of them today
) The problem with his defense is that NCSoft's stock options didn't crash for him, like Hobson's did. He could have easily cashed his stocks in for several million. If he has as much as I think he did in stock, he should have kept at least $10mill.
pumpkin pie
FoxBat this one has a more detailed report if you are interested. somekind of stock fraud it seems, but when he resign, the new were all over the net, if i remember correctly, if he hadn't resign voluntarily why did he give all the interview of him wanting to leave the company?
http://www.pcworld.com/article/16442...ck_fraud.html/
http://www.pcworld.com/article/16442...ck_fraud.html/
distilledwill
It does all sound rather soup-opera. He probably shouldve just let himself be fired, then he mightve got something.
You can just see it now:
"You Sir, are fired!"
"You can't fire me!"
"...and why is that?"
"Because I quit!"
You can just see it now:
"You Sir, are fired!"
"You can't fire me!"
"...and why is that?"
"Because I quit!"
pumpkin pie
ahahah, it doesn't sound like he got fired , he left to pursuit other interest>> suing his previous partner/company for money :P
Karate Jesus
Quote:
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Originally Posted by pumpkin pie
FoxBat this one has a more detailed report if you are interested. somekind of stock fraud it seems, but when he resign, the new were all over the net, if i remember correctly, if he hadn't resign voluntarily why did he give all the interview of him wanting to leave the company?
http://www.pcworld.com/article/16442...ck_fraud.html/ |
- Whether or not NCsoft in fact "fired" Garriott isn't the big issue. He had 90 days to retain his stock options either way.
- Garriott is claiming that NCsoft frauded him using what is dubbed Hobson's Choice.
Hobson's choice is essentially fraud that works like this:
- NCsoft dismisses Garriott.
- Then let the stocks for NCsoft fall over the 90 day period he has to retain/sell his stock options
- Then after the 90 day period, they report he left NCsoft on good terms, write up a fake letter under his name, and their stocks go back up.
- If this happened, then it is indeed fraud.
- Garriott is also suing for the damages he received in the course of this process, if he isn't returned his lost stock options.
- Both amounts appear to be equal. So, he's intending to sue for either the stock or the damages incurred.
If I missed anything or that doesn't really simplify it, someone let me know.
SpiritThief
He did speak up until now. He's way too late. He let the website go on forever and a day, without speaking up.
He just can't find a job and this was suggested to him. He will lose and do nothing but waste time. Bet he hoping for a quick out of court payday on a short stack. Thinking they will do it since they got the other stuff to worry about.
He just can't find a job and this was suggested to him. He will lose and do nothing but waste time. Bet he hoping for a quick out of court payday on a short stack. Thinking they will do it since they got the other stuff to worry about.
pumpkin pie
the suit
and more articles. here
@Karate Jesus
thats about what the news has been saying, but there's one thing no one can know, what was Richard Garriott thinking when he sold those options, he could have thought that it was shitty option anyway since the market were so bad and Tabula Rasa not doing well at all, and all the bad economy. But then the market for online gaming was not affected as other industry was and NCSoft's launch of Aion and the much anticipated Guild Wars 2 have made NCSoft's stocks goes up, and now seeing that the price have gone up, only did he wants to sue NCSoft? If he did really wanted to protest, he should have engage a lawyer when, as he claimed was unwillingly terminated and given a Hobson's choice, no? just a thought.
and more articles. here
@Karate Jesus
thats about what the news has been saying, but there's one thing no one can know, what was Richard Garriott thinking when he sold those options, he could have thought that it was shitty option anyway since the market were so bad and Tabula Rasa not doing well at all, and all the bad economy. But then the market for online gaming was not affected as other industry was and NCSoft's launch of Aion and the much anticipated Guild Wars 2 have made NCSoft's stocks goes up, and now seeing that the price have gone up, only did he wants to sue NCSoft? If he did really wanted to protest, he should have engage a lawyer when, as he claimed was unwillingly terminated and given a Hobson's choice, no? just a thought.
Inde
Quote:
| Whether or not NCsoft in fact "fired" Garriott isn't the big issue. He had 90 days to retain his stock options either way. |
He has a case. One he can potentially win if NCSoft did commit fraud and classify his leaving as voluntary when he claims it was not.
Karate Jesus
Inde
Karate, for the love of.... READ THE LAWSUIT.
He was forced to exercise his options under threat from NCSoft.
He was forced to exercise his options under threat from NCSoft.
Karate Jesus
Quote:
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Originally Posted by Inde
Karate, for the love of.... READ THE LAWSUIT.
He was forced to exercise his options under threat from NCSoft. |
Inde
Snow Bunny
It's finals period now, so I can't be arsed to read into it but...
I hope he loses.
I hope he loses.
Nereyda Shoaal
Give him unded Kanaxai, that will shut him up
Karate Jesus
Quote:
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Originally Posted by Inde
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But, his Hobson's Choice defense is solid and legally viable. If he can prove they faked his statement, then NCsoft is going to lose a lot of money.
His fraud case is pretty solid if he actually has evidence. His breach of contract case is probably screwed since it's all he-said, she-said stuff. They'll out witness him on the the breach, but if he does have evidence he'll win the fraud.
Inde
I don't know, I mean Garriott has always had a huge ego and been very full of himself from what I've read and seen. Not to mention that if some guy can spend $30 MM to get into space... okay my poor self would just love to see that kind of money.
Regardless though, NCSoft did indeed claim, and not so subtly, that he just up and walked away from it all. His "open letter" I can believe that NCSoft drafted and had him sign it. Not many of us think that something like that could be used against you one day so I can even see how that's explained. I also find it hard to believe that Garriott would call, while in quarantine in a Russian space station, to quit his job considering he was still getting paid (granted a reduced salary) so I (personally) don't believe his leaving was voluntary after reading that.
It will be interesting to see how it all plays out though.
Regardless though, NCSoft did indeed claim, and not so subtly, that he just up and walked away from it all. His "open letter" I can believe that NCSoft drafted and had him sign it. Not many of us think that something like that could be used against you one day so I can even see how that's explained. I also find it hard to believe that Garriott would call, while in quarantine in a Russian space station, to quit his job considering he was still getting paid (granted a reduced salary) so I (personally) don't believe his leaving was voluntary after reading that.
It will be interesting to see how it all plays out though.
pumpkin pie
indeed, it will be interesting.
However, what I said in previous post, don't take my word for it, I am fiercely loyal to Guild Wars and anything associate to them
However, what I said in previous post, don't take my word for it, I am fiercely loyal to Guild Wars and anything associate to them
Karate Jesus
Quote:
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Originally Posted by Inde
I also find it hard to believe that Garriott would call, while in quarantine in a Russian space station, to quit his job considering he was still getting paid (granted a reduced salary) so I (personally) don't believe his leaving was voluntary after reading that.
It will be interesting to see how it all plays out though. |
However, like I said earlier, he isn't filing "Wrongful Termination" he's filing for Fraud 1 & 2, Incurred Damages from Legal Misrepresentation, and Breach of Contract. I would bet that he's aiming for a settlement on the Fraud 1 & 2. The breach has no grounding, and the incurred damages wont fly in front of a Texas jury. He'll probably get close to $10 mill in settlement if he has proof.
lewis91
Nah i think the other threads name is prettier
Inde
Garriott states repeatedly that he objected to the dismissal. And that afterward he called in multiple times to state that his leaving was not voluntary. I agree on the settlement part though. Lawsuits are always long and this will be drawn out for years without resolution. But if NCSoft has some money to burn it might be in their best interest to just let it all play out and drain Garriott's funds.
LONGA
Looks like Mr. Garriot,having a financial trouble.He could let this go if he doesn't plan to do something big.Those money for space tour could do a lot.
Karate Jesus
Quote:
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Originally Posted by Inde
Garriott states repeatedly that he objected to the dismissal. And that afterward he called in multiple times to state that his leaving was not voluntary. I agree on the settlement part though. Lawsuits are always long and this will be drawn out for years without resolution. But if NCSoft has some money to burn it might be in their best interest to just let it all play out and drain Garriott's funds.
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), but he isn't filing for wrongful termination which is fishy if you ask me. I think he's just throwing that out there because it strengthens his fraud charges (again, only if he has proof).EDIT: Oh, and it's always fishy when someone brings up fraud charges in civil court. His intentions are obviously geared towards money, not revenge. If he was just pissed, he could have filed the fraud charges in criminal court. And he got Stephen Fox to represent him, who in Texas is pretty notorious for winning money.
Inde
Well, NCSoft's reponse will be interesting. If they make a public one. I imagine it will just be in the form of a counter. LOL, NCSoft could counter sue him for making a terrible game, draining their coffers on a failed concept, and then taking an "extended leave of absence" by going into space. Now THAT would make for a great fight.
Karate Jesus
Actually, if Garriott doesn't have enough physical evidence, NCsoft could counter sue for something like Corporate Defamation or some kind of breach of contract. That's probably what they'll do. Most companies try to counter sue and then drag the person through litigation. Which will take a lot of money out of Garriott, if he has any left from his $30 million space trip.
Apollo Smile
Richard Garriott is a hasbeen who is just trying to make some quick bucks after wasting all of his money on his trip to space, and after HIS game flopped horribly.
Tullzinski
Bah I hope Garriot vomits in his space suit and chokes on it. TR sucked, he sucked, his comments about GW business model sucked. Whiny has been a-hole that has done nothing lately but fail.
Damn Apollo beat me to it
Damn Apollo beat me to it
Professor K
Its really sad to see Lord British fall so low. His recent actions really slap his fans (myself included) in the face.
Zinger314
Quote:
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Originally Posted by Inde
Well, NCSoft's reponse will be interesting. If they make a public one. I imagine it will just be in the form of a counter. LOL, NCSoft could counter sue him for making a terrible game, draining their coffers on a failed concept, and then taking an "extended leave of absence" by going into space. Now THAT would make for a great fight.
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"We'll sue you unless you stop suing us."
Shayne Hawke
I wonder who's going to take a stab at NCsoft next?
HollaBigj
Actually, I believed it's depends on stockholders. They have a power to vote to "terminate" CEO or any executive board, only if, they're not happy with Company's performances and earning per share ratio. Once stockholders voted to "terminated" CEO, thus, there is no case against fraud, wrongful termination, or misrepresention and more likely to lose the case.
Higher percent of own stocks equal more control in the company. Basically, stockholders told Garriot to hit the road.
Higher percent of own stocks equal more control in the company. Basically, stockholders told Garriot to hit the road.
Snograt
Quote:
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Originally Posted by Inde
Well, NCSoft's reponse will be interesting. If they make a public one. I imagine it will just be in the form of a counter. LOL, NCSoft could counter sue him for making a terrible game, draining their coffers on a failed concept, and then taking an "extended leave of absence" by going into space. Now THAT would make for a great fight.
|
Garriott: Many, many pages of legalese shenanigans
NCSoft's response: "Lol"
Karate Jesus
Quote:
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Originally Posted by HollaBigj
Actually, I believed it's depends on stockholders. They have a power to vote to "terminate" CEO or any executive board, only if, they're not happy with Company's performances and earning per share ratio. Once stockholders voted to "terminated" CEO, thus, there is no case against fraud, wrongful termination, or misrepresention and more likely to lose the case.
Higher percent of own stocks equal more control in the company. Basically, stockholders told Garriot to hit the road. |
Oh, and typically the Board/CEO hold a controlling stock of the company anyway. So average stockholders' "votes" don't mean shit.
Shadowhaze
Interesting, but in the world today I'm really not surprised with all the poeple/companies getting sued. lol.
If they did indeed do what he said they did, that isn't good.
But who knows who is in the right.
Really though, someone with the luxery to spend that much money on a space trip...it almost makes me feel no pity. :s
If they did indeed do what he said they did, that isn't good.
But who knows who is in the right.
Really though, someone with the luxery to spend that much money on a space trip...it almost makes me feel no pity. :s
Eragon Zarroc
ooo, 24 million =) that's a pretty penny heh?