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Bidz.com provides merger status update

While BIDZ.com has requested that Glendon Group and Weston Capital Management LLC and its affiliated fund honor their obligations to fund and close the merger, as of today Glendon Group had not closed the merger. BIDZ therefore has filed suit in Delaware requesting expedited proceedings to compel Glendon Group to specifically perform its obligation to close the merger and to compel Weston Capital Management LLC and its affiliated fund to honor their equity commitment and guarantee obligations entered into in connection with the merger agreement by funding sufficient capital to complete the merger.