MIAMI, September 11 /CNW/ - The largest shareholder in Global
Entertainment Holdings/Equities, Inc. ("Global," trading symbol GAMT.OB) today
announced that a Miami-Dade Circuit Court Judge recently adopted the
recommendations of a Special Magistrate and barred two California movie
producers, David Dadon and Jacob Dadon, from continuing to exert control over
the company after an apparently failed reverse merger transaction.
In ruling in favor of plaintiff Bryan Abboud, Global's largest
shareholder, the court adopted the findings that the defendants had
"wrongfully obtained control" of the publicly held company, failing to
transfer all issued and outstanding shares of the acquisition company,
Bayshore Media Group, to Global as required by the merger agreement. The court
also referred the matter to federal investigators and, in response to what it
characterized as "gross and flagrant" failures to comply with discovery and
other requirements, struck the defendants' pleadings.
Miami-Dade Circuit Court Daryl E. Judge Trawick further expressly agreed
that the matter be referred for investigation to the Securities and Exchange
Commission (SEC), the Federal Bureau of Investigation (FBI), and the U.S.
Attorney for the Southern District of Florida. The ruling had found that "the
plaintiffs also presented compelling evidence of false sworn testimony by
David Dadon and Jacob Dadon," and recommended referral both for investigation
as to the potential of perjury charges as well as investigation as to the
individual defendants' management of Global.
In his findings of fact, the magistrate stated that his "recommendation
that the matter be referred to federal authorities is bolstered by the fact
that this appears to be another in a long line of cases involving David Dadon
wherein he has attempted wrongfully to acquire public corporations, attempted
to take investors money, attempted to falsely accuse others, and has had his
testimony rejected by the courts of this nation."
Hogan & Hartson attorney Alvin Lindsay, a partner in the firm's Miami
office specializing in technology in litigation, handled this matter for the
The complete ruling can be viewed by clicking here.
For further information:
For further information: For Bryan Abboud David & Garcia PR John P.
David, 305-255-0035 firstname.lastname@example.org