Movie Producer Dadon, Son Barred from Operating Publicly Held
Company; Largest Shareholder Regains Control of Global Entertainment
Holdings/Equities, Inc.
MIAMI (Business Wire EON/PRWEB ) September 11, 2007 --
The largest shareholder in Global Entertainment Holdings/Equities, Inc. (“Global,”
trading symbol GAMT.OB) today announced that a Miami-Dade Circuit Court
Judge recently adopted the recommendations of a Special Magistrate and
barred two California movie producers, David Dadon and Jacob Dadon, from
continuing to exert control over the company after an apparently failed
reverse merger transaction.
In ruling in favor of plaintiff Bryan Abboud, Global’s
largest shareholder, the court adopted the findings that the defendants
had “wrongfully obtained control”
of the publicly held company, failing to transfer all issued and
outstanding shares of the acquisition company, Bayshore Media Group, to
Global as required by the merger agreement. The court also referred the
matter to federal investigators and, in response to what it
characterized as “gross and flagrant”
failures to comply with discovery and other requirements, struck the
defendants’ pleadings.
Miami-Dade Circuit Court Daryl E. Judge Trawick further expressly agreed
that the matter be referred for investigation to the Securities and
Exchange Commission (SEC), the Federal Bureau of Investigation (FBI),
and the U.S. Attorney for the Southern District of Florida. The ruling
had found that “the plaintiffs also presented
compelling evidence of false sworn testimony by David Dadon and Jacob
Dadon,” and recommended referral both for
investigation as to the potential of perjury charges as well as
investigation as to the individual defendants’
management of Global.
In his findings of fact, the magistrate stated that his “recommendation
that the matter be referred to federal authorities is bolstered by the
fact that this appears to be another in a long line of cases involving
David Dadon wherein he has attempted wrongfully to acquire public
corporations, attempted to take investors money, attempted to falsely
accuse others, and has had his testimony rejected by the courts of this
nation.”
Hogan & Hartson attorney Alvin Lindsay, a partner in the firm’s
Miami office specializing in technology in litigation, handled this
matter for the prevailing plaintiff.
The complete ruling can be viewed by clicking
here.
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