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BETFAIR FOUNDER IN MULTI-MILLION POUND LITIGATION
Thursday September 15,2011 : Davies suing his lawyers over shares dispute
One of the founders of internet gambling group Betfair, Mark Davies, is suing his erstwhile legal representatives, alleging that law firm Speechly Bircham cost him millions of pounds when he tried to sell shares in the group.
Davies left Betfair in July 2010 but is in dispute with Speechly Bircham over the sale of Betfair shares, claiming damages of more than GBP 4 million as a trustee of two family trusts that held stakes in the gambling company.
According to a High Court writ reported by the Daily Mail over the weekend, the trusts had instructed Speechly Bircham that they wanted to sell their shares after the Betfair IPO on the London exchange last year, when the price was GBP 13 a share.
But in October 2010, when the shares were trading at GBP 15.50, Davies was told the shares could not be sold because they had not been registered properly, says the writ. Betfair shares are now worth only GBP 7.05.
Both Davies and Speechly Bircham declined to comment when approached by the newspaper.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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