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Old 04-18-2009, 10:34 AM   #1
praveen


 
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Join Date: Jul 2002
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Default WPP Sues Spot Runner for Securities Fraud, Breach of Contract

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Spot Runner, the start-up Web company that lets advertisers places ads on TV, has been sued by one of its investors, WPP Group for securities fraud and breach of contract, AdAge reports.

WPP, one of the largest world’s largest advertising agency companies, said Spot Runner’s executives aggressively promoted WPP’s investment in it to gain new investors, and then sold large quantities of their shares at growing valuations. It says Spot Runner did not disclose some stock sales, as required under an agreement.
Originally found in:- Venture Beat

Click here for the Adage News Article
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