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[Update1] The Two Geeknet (GKNT) Director Resignations Announced August 11th triggering Nasdaq Delisting Notice. What did Suzanne Present, Michael Solomon, Robert Bowman, Michael Sileck and Kenneth Langone Allegedly Know and When Did They Know it?



August 14, 2010 – Comments (0) | RELATED TICKERS: GKNT.DL , BBY , AMZN

Issues Of Fact:

1. (August 13, 2010) Kenneth Langone Acquires 339,009 Shares of Geeknet (GKNT) on the Open Market August 11th. Shares up 10.94% on 5x ADV closing at Day High of $1.42.

2. (August 11, 2010) Abruptly Resign.

3. (August 07, 2010) Kenneth Langone Takes Over as CEO, Chairman, and President.

4. (July 21, 2010) Geeknet (LNUX) Hedge Fund 13D Controlling Director (and Langone 'partner') Suzanne Present Abruptly Resigns, Replaced by 13D Hedge Fund Partner.

5. (August 23, 2009) Follow the Money, SIleck, Invemed (Langone), and WWE.

6. (February 21, 2010) Is a former Director, a former COO, and former majority shareholder of World Wrestling Entertainment about to throw a triangle choke hold on Geeknet (LNUX)?


Q: What happened to Sileck and Bowman? Why did they resign? Why did Suzanne Present resign? These were relayed by Kenneth Langone as 'Partners' on the August 4th Q2 conference call. Was all this allegedly planned with surgical precision including Langone's purchases August 11th and 12th as alleged proximate cause of said resignations/August stock plunge*/delisting notice? Nothing? Cooincidence?

Opened $1.16 August 11th.

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