It really staggers me that Party is pulling out of the US market

[DavidNB]

[ QUOTE ]
The two founders of Party Gaming made the decision for themselves not Party Gaming. They have cashed out over $1 billion since they took the company public. They want to be able to travel to the US. So they let the company go under by their decision. They warned all their shareholders about this risk and they are not subject to shareholder lawsuits like they would be if Party Gaming was a US company.

[/ QUOTE ]

They would be subject to lawsuits in the UK if this were true

[JPFisher55]

Party Gaming is not a UK company. Since they warned potential shareholders about this risk, they are likely not subject to alleged violations for security fraud. Breach of corporate fiduciary duty would be their potential problem.
Laws concerning the fiduciary duty owed by controlling sharelholders, directors and officers are governed by state law in US or local law in other countries. Party Gaming is based in Gilbralter. I doubt that Gilbralter has many laws concerning corporate breach of fiduciary duty. In the US, different states have different laws which means bringing litigation alleging breach of fiduciary duty can be harder in some states than other ones. I think that it is harder in UK than in most states. But in Gilbralter; probably non-existent.
Other threads link to an article from Business Week about the two founders and this topic.

[Utah]

This doesnt make sense. If I screwed shareholders out of billions the last thing I would worry about is a lawsuit.

[gonebroke]

All the public companies are bailing and the private ones are staying. How hard is it to figure out?

[Harkey]

I'm glad to see Party dropping out, and I'll leave it at that. I'll be spending most of my time on PStars.

[TruePoker CEO]

What they have is simple:

a residual marketing campaign for the US, every time the WSOP is shown,

a monster marketing database,

a largely indifferent clientale,

someone else willing to fight the fight for them (PStars), and

a profitable business outside the US.

Do not think for a minute that thousands and thousands of players won't flock back to Party every day if it re-enters the US market.

I really think it is that simple.

[brendanb438]

Has everyone who is still playing on Party started to spam the crap out of tables telling people to play at PStars, WPEX or FTP yet? Do it!

-Brendan

[Greg Miller]

Let me be the first to use the sentence "Hey, you remember a site called Party Poker?" I suspect you'll be hearing it again in the future.

[Synergistic Explosions]

Next thing we find out is ProPoker is buying out Party and renaming the new company PokerSpot, while announcing Dutch Boyd as the new CEO.

[OasisG]

lol Dutch Boyd... what disorder did he get?