Question by Dreamstuff Entity: Bible.com investor sues company for lack of profit. Your thoughts?
WILMINGTON, Delaware (Reuters) – A shareholder of Bible.com Inc sued the company’s board members, accusing the ordained ministers of failing to profit from the “goldmine” potential of the namesake Internet property, according to a lawsuit.
James Solakian filed the lawsuit in Delaware’s Chancery Court against the board of Bible.com for breaching their duty by refusing to sell the site or run the company in a profitable way.
The lawsuit cites a valuation done by a potential purchaser that estimated bible.com could be worth more than dictionary.com, which recently sold for more than $ 100 million.
The domain name was registered by Roy Spencer “Bud” Miller, an Arizona minister who secured it in 1996 for $ 50. Soon after, he was offered $ 100,000 for the location, according to court documents.
Miller refused, stating he was entrusted to run the site for a sacred purpose, according to court documents.
Miller, along with his wife Betty, brought in a marketing firm to help them develop the site. They raised money by forming Bible.com Inc and issuing stock.
More details: http://news.yahoo.com/s/nm/20101021/od_nm/us_biblecom_lawsuit
Answer by John Savage
My first thought is that you love to “profit” from other people’s misery.
It reminded me of your celebratory “question” about the child who was killed by her mental father for not praying.
There are no depths that you will not sink to, to try to score points. Very sad.
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