Midway Insider Trade Claims a Likely Focus of Redstone Depositions

March 5, 2009 -

Last month, GamePolitics broke the news that some creditors of bankrupt Midway were alleging that the recent sale of the financially troubled Mortal Kombat publisher was a sham.

In a document filed with the U.S. Bankruptcy Court, attorneys for certain of Midway's unsecured creditors charged that insider dealing had occurred between the former owner, media mogul Sumner Redstone, and the new owner, mystery man Mark Thomas. According to those allegations, Thomas, whose shell company, Acquisitions Holding Subsidiary, purchased Midway for a mere $100,000 in November, stood to reap a 30,000% return on his investment.

As of this morning, civil subpoenas have been issued for Sumner Redstone and his daughter, Shari, who formerly served as chairperson of Midway. Both are required to appear later this month for separate depositions in New York City. The Redstones will be required to bring documents, notes and e-mails relating to the operation of Midway as well as to their dealings with Mark Thomas.

So far, court records do not indicate that Thomas has been subpoenaed.

GP: It is important to note that these subpoenas are related to a financial dispute between creditors in Midway's bankruptcy case. They are not related to any type of criminal or government regulatory investigation.

DOCUMENT DUMP: See Shari Redstone's subpoena here. For Sumner Redstone's subpoena, click here.


Comments

Re: Midway Insider Trade Claims a Likely Focus of Redstone

This'll be fun to follow over the next couple months...

Re: Midway Insider Trade Claims a Likely Focus of Redstone

I hope something come out of this.

http://www.magicinkgaming.com/

Re: Midway Insider Trade Claims a Likely Focus of Redstone

I'm starting to wonder if Thomas actually exists.

Re: Midway Insider Trade Claims a Likely Focus of Redstone

This Thomas fellow is most likely a puppet fabricated by the BoE for use as a handy scapegoat. If the company goes six feet underground, it's Thomas that does the time.

I think he exists. It's a canary bird that'll do the time, though.

| XBOX LIVE GamerTag: Harry Miste | Steam ID: Harry Miste | PSN ID: HarryMiste | Will give an e-cookie to whoever guesses the reference |

| XBOX LIVE GamerTag: Harry Miste | Steam ID: Harry Miste | PSN ID: HarryMiste |

Re: Midway Insider Trade Claims a Likely Focus of Redstone

Have we ever found out exaclty who this Thomas guy is? like...even what he looks like?

 
Forgot your password?
Username :
Password :

Poll

Which video game platform are you most thankful for?:

Shout box

You're not permitted to post shouts.
Andrew EisenWhy the interest in Ghomeshi? Is it relevant to something we've been discussing? (Not saying it's not but it seems a rather random thing to bring up.)11/26/2014 - 6:39pm
WonderkarpJian Ghomeshi arrested on sex assault charges, released on $100K bail http://www.citynews.ca/2014/11/26/jian-ghomeshi-arrested-on-sex-assault-charges-released-on-100k-bail/11/26/2014 - 5:55pm
WonderkarpJian Ghomeshi to #Gamergate: Our culture’s toxic masculinity crisis on display http://www.salon.com/2014/10/27/jian_ghomeshi_to_gamergate_americas_toxic_masculinity_crisis_on_display/11/26/2014 - 5:55pm
WonderkarpI saw that. Amiibos are pretty awesome. I have 10 now :P11/26/2014 - 5:49pm
Matthew Wilsonon a weird side of smash news, a level 50 Amiibo almost won a tournament. http://www.siliconera.com/…/story-fox-amiibo-nearly-won-su…/ I guess Nintendo made the cpu ai better.11/26/2014 - 5:44pm
WonderkarpAny of you guys watch Game Grumps? They have an episode detailing alot of the bugs in the hilariously bad Sonic Boom https://www.youtube.com/watch?v=O3Jb3A0HLe4&list=UU9CuvdOVfMPvKCiwdGKL3cQ11/26/2014 - 4:19pm
Andrew EisenI'm blanking. What's MMS?11/26/2014 - 4:16pm
james_fudgeI keep an eye on it for really good deals11/26/2014 - 4:00pm
MaskedPixelanteEhh, MSS is only half off, I can wait for it to go under 1011/26/2014 - 3:48pm
NeenekoWhich is why I completely ignore the site.11/26/2014 - 3:15pm
james_fudgeAHHH Someone bar the door and keep the kids away from the credit cards!11/26/2014 - 3:14pm
Neo_DrKefkaThe Ralph Retort is a toxic mess and the guy is literally building his career on the back of the GamerGate movement. Whether you believe GamerGate is right or wrong this is a man profiteering on this war.11/26/2014 - 2:56pm
WonderkarpTHE STEAM SALES HAVE BEGUN!11/26/2014 - 2:16pm
MaskedPixelanteUnless you have said DLC already, then you can get the equally broken FarCry 4.11/26/2014 - 2:15pm
WonderkarpI love Boogie. He's awesome.11/26/2014 - 2:02pm
PHX Corphttp://kotaku.com/ubisoft-apologizes-for-assassins-creed-unity-with-free-1663768202 [Sarcasm]Ubisoft Apologizes for making a broken game, gives out free dlc for said broken game[/sarcasm]11/26/2014 - 1:53pm
Andrew EisenIt's a cute joke to make but it’s important to note that the person's view is not gendered. It's not about not supporting a female dev, it's about not supporting GamerGate. Gender is irrelevant in this case.11/26/2014 - 1:10pm
Neo_DrKefkaToo add what Andrew said about the The Ralph Retort it is no different from what you read at Gawker. I remember reading The Ralph Retort on how Boogie was the bad guy from being on the fence until he jumped to the GamerGate side.11/26/2014 - 12:42pm
Wonderkarpthat, I do not know the answer too. I see some people saying they wont vote for her because of it. I'm pointing out the irony.11/26/2014 - 12:31pm
Andrew EisenIs this call to not vote for her game widespread or is it just the one tweet from the one guy?11/26/2014 - 12:19pm
 

Be Heard - Contact Your Politician