Updated 09/29/2010: ShopNBC Getting Sued?

September 28, 2010

UPDATE 09/29/2010:

The “drearies” have spoken! They believe that this latest 8-K filing is to protect ShopNBC management from a shareholder revolt. The critics seem to think that Q3 and Q4 will continue to see losses because of needed changes within the current ShopNBC model and a continuing soft economic outlook. I’ve seen predictions from the “cheeries” that the stock would hit $5.00; and after the Q2 results call, it seemed probable. But then Board Chair Randy Ronning sold 70,000 shares and the stock has continued to lose roughly .05 cents a week after a jump to $2.00. At this moment settling in at $1.83.

—————–/-/-/-/-/-:-:————-

From the the homeshoppingista blog yesterday:

Is ShopNBC anticipating a lawsuit?

On Monday the financially ailing No. 3 home shopping network filed an 8-K with the Securities and Exchange Commission saying that it was entering into indemnification agreements with each of the company’s directors and officers.

“Under each Indemnification Agreement, the Company has agreed to indemnify each director and officer who is involved in any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, arbitration or investigative, in connection with his or her service to the Company, against all losses, claims, damages, expenses (including attorneys’ fees), and liabilities reasonably incurred by such person in connection with the proceeding,” the filing said.

“The Company believes that the Indemnification Agreements are necessary to provide directors and officers increased certainty of such protection in the future and to attract and retain qualified persons to serve in such positions,” ShopNBC said.

Mmmm, who might be suing?”

There are an entire list of possible parties. Maybe Plasticase is going after ShopNBC for hawking their dive case design that Invicta allegedly ripped off. Might it be the Swiss Federation for providing a platform for Invicta to market Chinese watches as Swiss Made? Or maybe it is the victims of identity theft related to “insider wrong doing” that was reported to the New York State Consumer Protection Board?

Might Invicta’s year of troubles, which has continued with the, latest TTV RS8 Sea Spider finally burned that brands bridges at the number three tv shopping network and forced managements hand to sever ties with Invicta?

The possibility also exists that employee wrongdoing or questionable actions have opened the network up to liability.

Updates posted as they appear.

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7 Responses to “Updated 09/29/2010: ShopNBC Getting Sued?”

  1. Big P Says:

    Protection?

    Everybody needs a rubber…….ducky.

    Hmmmm who could be seeking legal recourse?

    Well well well, what a concise and well written shorty of an article, but it does reveal quite the 411 bounty.

    Could this be the beginning of the 10 billion pound stone wheel slowly eking faster and faster, until it’s covered in the dirty Incrapta yellow stain of the heads it rolled over?

    Shopnbc is like that old 70s show “What’s Happening”, used to be somewhat good at one time, nowadays, well now Shopnbc is like it’s twin sitcom’s dying successor, “What’s Happening Now”, can you hear Dee? “Oooh Oooh Roger, are you gonna get it, mammaaaa”

    These law suits are the definition of ballsy, big power nuts, holy shit, I lost count, such transgressions, such audacity, such lies!

    I want to be the fly on the wall when all in question tries desperately to click their heels 3 times and they’ll be in Kansas….lololololol

  2. rollie the goalie Says:

    i just popped an invicta yellow zit ewwwwwwwwww

  3. krane11367 Says:

    betterskills,

    Be careful about these informative posts of yours. The WG members will just say, “Oh, those hater blogs” and continue to disregard the facts.

    I think this is how climate change got started. Frankly, I like polar bears a lot more than fucking tasteless Subaqua Incraptas.

  4. LIES ALL LIES! Says:

    I just can’t imagine how offering shitty Chinese watches, shitty Chinese fake jewelery, Tiffany knock off lamps, mail order mattresses, off brand and last years clearance electronics are just not pulling Shop NBC stock shares up. It makes no sense.

  5. Big P Says:

    *The Lalo has returned and is currently on your television screen*

    *Do not adjust your TV picture*

    *He has brought his slicked split demon tongue with him*

    *The Lalo brings trinkets for all the boys and girls*

    *Let the soothing sounds of trap jaw skelton convince your brain into a devilish deal*

    *M.Davis wants rowdy roddy piper dead, for he has the sunglasses*

    T-H-E-Y L-I-V-E

    C-O-N-S-U-M-E

    O-B-E-Y

  6. Solomon Grundy Says:

    What a shame, so many reputable watch companies exist & yet nbc fills most of their time slots with their invictas, these so called house brands monopolize air time, too bad, would like to see some kind of variety, without the low end materials & transparent sales pitches.

  7. badgeek Says:

    Koi Is a fag,he behaves just like his heros,just a a old cunt with a agenda.


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