Full Tilt Facing Yet Another Class-Action Lawsuit

Full Tilt Poker’s legal troubles continue to pile onto them.  In a story released on Thursday in the Los Angeles Times, Full Tilt Poker is facing yet another class-action lawsuit against them.  This current complain is seeking $900 Million in damages.

The latest is the fourth suit filed against Full Tilt since the Black Friday indictments

The suit was filed Larry Kennedy and Greg Omotoy and they are accusing Full Tilt of fraud, racketeering, unjust enrichment, and money laundering among other charges.  Among those named as defendants in the suit are Howard Lederer, Chris Ferguson, Ray Bitar, Phil Ivey, and Gus Hansen.

The complaint alleges that Full Tilt Poker misappropriated funds that were supposed to be in segregated accounts and gave them to owners.  They said Full Tilt,   “did not create financial reserves for amounts held on behalf of players, but instead distributed the money for operational expenses, marketing expenses, fees and losses arising from money laundering … and massive distributions to the individual defendants.”   Omotoy is only owed about $10 by Full Tilt but Kennedy claims that he is owed $120,000 by the site.

This is not the first time that the two have sued Full Tilt.  Back in 2009, they filed a suit against Full Tilt after the site confiscated $80,000 from the two and accused them of both multi-accounting and using bots.  The suit was dismissed in 2010.

Thursday’s filing is the fourth lawsuit filed against the site since Black Friday.  Back in July, Steve Segal, Nick Hammer, Robin Hougdahl, and Todd Terry filed a class0action suit against the site seeking $150 Million citing violations of the RICO statues.

A suit was filed in September by a Canadian advocacy group against Full Tilt making the same allegations as Thursday’s suit and those brought forward in the Black Friday indictments.  That suit seeks $15 Million in restitutions.

Earlier this month, Cardroom International filed a suit against both Full Tilt and Pokerstars claiming that the sites made backdoor deals with major TV networks and subsequently pushed them out of the market for providing card room services to the sites.  They claim these are violations of RICO statutes as well.  The lawsuits were filed both in New York and California, and they are seeking $30 Million in damages.

As more people begin to line up to take legal shots at Full Tilt, it seems increasingly less likely that Group Bernard Tapie will be able to complete their sale.  While they claim that the major hurdle is clearing up the Black Friday indictments, many cannot see a company willing to buy a company that not only has the U.S. Government on their back, but potentially hundreds of thousands lining up to sue.

As always, we will bring you more on the Full Tilt saga and all Black Friday developments as they occur.

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