LONDON (Brand Republic) - Online entertainment group e-District.net has started legal action against its former chief executive Steven Laitman, who was sacked on Monday.
On Friday, the company served an injunction, freezing Laitman’s assets, and is seeking damages after allegations that revenues and user numbers had been “significantly” overstated.
e-District’s main business is a network of websites, offering games and chatrooms, which is branded LeisureDistrict. The business claimed to have 3.4m registered users at the end of 2000.
It is not known exactly what time period the alleged exaggerated claims took in, but it is understood that they could date back to before the company’s £30m flotation in March 2000.
This article was first published on brandrepublic.com