Friday September 23, 2011 : RUCTIONS AT BETFAIR ANNUAL MEETING
An interesting annual meeting to say the least
Betfair made the fundamental media liaison error of first trying to ban the press from their annual meeting and then after a journalist bought five shares to ensure attendance, banning shareholders who are journalists from the meeting as well.
The meeting held at the British Academy of Film and Television Arts headquarters, this week has industry observers considering this unusual practice being a public company.
To top it off, the online betting exchange reportedly had Sandip Sayaniya, a disgruntled punter who felt that he’d been treated badly by the company, staging a protest outside the meeting and threatening legal action to recover GBP 52 352.85 that he claims was confiscated unjustly from his account by Betfair.
A Betfair spokesman said: "We thoroughly investigated this matter and we determined that the customer was evading payment of the required fees."