This lawsuit is flying under the radar...if the company would publicly respond and bring it to the forefront, the stock would drop below $2. They believe the suit is frivolous and do not make more of it than it is. Nevertheless, the stock deserves nothing more than a price around $2.50 at this time.
this lawsuit is 100% true - the company did screw them around for payment - but this is normal behavior for Navarre - they don't pay on time period - there was no intentions of screwing them - they just can't pay - look at their credit report!!!! it is awful!!!!! New vendors won't even sign them up!
I just wasted 30 minutes of my life and read through the Graffiti lawsuit. What a friggin joke, this is truly a crock of Shiite. They claim Navarre failed to pay them several hundred THOUSAND dollars for invoices they sent to them.......and as a result, that failure to pay a few pennies completely destroyed their company. This is an absolute joke and will be tossed out of court. Absolute joke. If I were SPEED, I would go hard after the Graffiti principals (and I use that term lightly) and sue them for defamation and about 12 other things. Absolutely rickidiculous.
That's right this thing will drop like a rock once mom and pops find out that there is a 50 Million Dollar Lawsuit so you will see no news release until they either settle or it goes to trial. If I was Graffiti I would stick it to them, as the new release from Graffiti states they were not negotiating in good faith now they have too or go to trial, and from what I read in the brief put out by Graffiti seem to say they are in the right and Navr ( SPDC ) gonna get screwed