Epik can't pay any of its users right now (1 Viewing)

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Brian is using Ai to write his posts? Ai created content leaves double between words.

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Epik customer amends lawsuit over worries of asset sale - Domain Name Wire | Domain Name News

Today, Adkisson filed an amended lawsuit (pdf). The three main differences between the original and amended cases appear to be:
  1. Stating concern about an asset sale. The amended complaint adds a section titled “Defendants Attempt to Sell Epik and Its Assets”. It explains that Epik CEO Brian Royce recently tweeted about negotiating asset sales and that former CEO Rob Monster confirmed to Adkisson on May 12 “that he understood ‘that an asset sale is being finalized'”. The complaint states, “If an asset sale is completed, Epik intends to pay its creditors before repaying the consumers whose funds Defendants misappropriated.”
  2. Adds examples of more people who say they were ripped off.
  3. Adds an additional RICO claim.
 
From the response to Brian Royce's motion to dismiss him from the lawsuit -

In his Motion, Royce focuses largely on what he terms a “timing issue,” claiming that because he did not become CEO of Epik until after Mr. Adkisson transferred his funds to Epik, Royce cannot be liable. This is chronological sophistry. Royce purposefully omits that as CEO of Epik he personally made several materially false representations to Mr. Adkisson about repaying Mr. Adkisson’s funds—which Epik was purportedly holding in escrow. Royce deliberately misled Mr. Adkisson for months while Defendants embezzled Mr. Adkisson’s funds for purposes other than what Mr. Adkisson had intended. That is illegal. And, as detailed in the Amended Complaint, Royce was not just involved in this tortious conduct, he is in charge of it as the only person fully in control of Epik’s finances.

There are also references to other customers including Kathleen, Domain Empire, as well as references to taking payments for registration / renewals and never actually processing them.

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