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[Update2] Kenneth Langone, Takes Over as CEO of Geeknet (GKNT) fka (LNUX)...owns 30% of common and controls 57% of the Board...Trojan Horse on the Board?...story developing...

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August 06, 2010 – Comments (0) | RELATED TICKERS: GKNT , BBY , YHOO

 

Geeknet (GKNT) fka (LNUX) Announces Ken Langone as new CEO and departure of Scott Kauffman, CEO and Director, 1:10 Reverse Stock Split, continuing losses, and a decrease of another $5.2M in cash. Q2 numbers ending June 30, 2010 as reported on August 4th on the Q2 ending June 30 conference call...1:56 / 18:09 2nd quarter 2010 Financial Results Conference Call "…my partners and I bought about thirty (30%) percent of th...... over a period of time…" announced Kenneth Langone, CEO, Geeknet (GKNT), August 4, 2010 as he introduced himself to Geeknet (GKNT) shareholders...SEC Form 10-Q filed August 5th, 2010.

Was Langone's "partner", Suzanne Present, sent in as a trojan horse in 2008 to take accumulate shares while destroying/failing to create shareholder value allegedly contemporaneously with her Board seat, allegedly undue influencing a  campaign to [not] work with "The Street" i.e.not attending investor conferences, analyst meetings, etc. through the present, as a baseline shareholder value maximization strategy for any publicly-held company, except SourceForge/Geeknet. Is Geeknet (GKNT) accordingly going private as the "partners" accumulate more shares as they maintain said alleged consistent "Street" hostile  closed-loop patterns ensuring further shareholder value destruction/share accumulation?*...story developing...

 

*Item 2. 

 

References:

1. Geeknet (LNUX) Smoking Guns or An Open Letter to the Geeknet (LNUX) Management and Board of Directors.

2. [UPDATE1] Efficient Market Hypothesis and the Implications of Non-[full]disclosure 

 

 

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