Who really cares. The Augme suit is a desperate attempt to slow down Velti who is eating Augme’s lunch by taking massive market share and winning business head to head over Augme. This issue is likely to take years to resolve. It seems suspicious that the SA article came out before the official press release from Augme – a possible collusion to short/damage VELT stock that should be investigated by the SEC. The author of the article disclosed he is long AUGT, but did not disclose a short VELT position – he should be challenged on that. The SA article is also inaccurate, as the original Yahoo lawsuit was filed in Nov 2009. The Yahoo trial is expected to being in Jan 2013, and the results of that trial will certainly have an impact on whether Velti decides to settle – if Augme wins – and that is a big IF. If Augme loses, then the Velti case will likely be dismissed. I am long VELT and I expect their stellar performance to move the stock to the mid teens by summer time. Just sit back and relax, wait for a response from VELT, and enjoy the ride.
Well said. I have held Velti for over a year now, and am happy to hold until it breaks 30.00. My contention is that they currently own the global space here and others will be nipping at their heels for the foreseeable future. The key issue is that we are only at the dawn of the smart phone age, and advertising on this platform will only get more and more pervasive and important as a result of extraordinary smart phone growth.
At some point, Velti is going to be swallowed up by the likes of a Google. This market just has too much potential and Velti's presence in it is just too big for it not to be.
Best of luck.
The news was out Friday pal...furthermore, in most cases on U.S. opportunity where Velti and Augme compete on a RFP Velti walks away. They can not compete with our platform. They know they infringing on our IPs but they the game is do it as much as you can until getting slapped with huge lawsuit. Well time has come...Veti can not defend itself against Augme and it has nothing to do with Yahoo's case which will be settled by Yahoo before January of 2013...they would not want to make it worst by allowing punitive and lawyer fees to be added by going to court on a clear cut case.
What I will be enjoying is taking away Velti's easy lunch now that their customers will know about this issue and would rather distance themselves from it.
News was public friday dude. You're too funny! The author isn't short VELT stock. Facts are the facts, Velt is stealing someone elses technology and making money from it. Would you be offended if someone stole your car and didn't want to pay you for it! If Velti is smart they will quickly license the technology, if not they may get pounded like Augme is doing to AOL, Yahoo, Gannet, Pandora and Lucid Media. Just research whose on their board and what he did to Rimm Blackberry for 612 million. Look at their law firm and you'll know Velti has a real issue to deal with despite what the stock might currently show. As for Velti beating Augme out of business, that's just not true. Velti is doing really well especially considering it was founded as an oversee's company basically in the porn biz. They've come a long way.
The complaint is certainly not positive for VELT, and it would be in their best interests to settle.
In the meantime, it will be interesting to see how the stock reacts after a good quarter, but with this legal overhang.