Prospective buyer of The Pirate Bay gets delisted

Global Gaming Factory X (GGF), which is trying to buy the file-sharing site The Pirate Bay, has been delisted from the Swedish stock exchange AktieTorget, putting the acquisition plans in jeopardy.

The delisting will be carried out immediately, the stock exchange said on Wednesday.

After a meeting with the company on Aug. 26, AktieTorget concluded that GGF lacks the ability to inform its stockholders about the proposed deal in a correct, relevant and credible way, it said then. AktieTorget's disciplinary committee then took a closer look at GGF and the result of its report led to the delisting.

GGF infractions have been "grave," according to a statement from AktieTorget. The infractions are, for example, related to the way it has informed the market about the funding of The Pirate Bay acquisition and negotiations with a global company regarding music rights.

The board of the stock exchange also says it apologizes for the way company has misled the market.

AktieTorget first halted trading in GGF's shares on Aug. 21.

What will happen to the acquisition of The Pirate Bay remains to be seen. But GGF CEO Hans Pandeya still put on a brave face, and has said that the deal won't be affected, according to Swedish daily Svenska Dagbladet.

GGF is supposed to pay 60 million Swedish kronor (US$8.52 million) in cash for The Pirate Bay.

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Show Comments

Essentials

James Cook University - Master of Data Science Online Course

Learn more >

Mobile

Victorinox Werks Professional Executive 17 Laptop Case

Learn more >

Exec

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?