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gnulaw (51.19)

[Update3] Kenneth Langone, Takes Over as CEO of Geeknet (GKNT) fka (LNUX)...controls 30% of common, 57% of the Board...1:10 reverse stock split, Trojan Horse on the Board? Story developing...



August 07, 2010 – Comments (2) | 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 accu......? (*Item 2).


Q: So why a reverse split with Geeknet (LNUX, GKNT) (shares outstanding: 60,000,000 (1.) and not Unify (NYSE:UFI) (shares outstanding: 60.17M (2.))?



1. The Registrant had 60,635,497 shares of Common Stock, $0.001 par value per share, outstanding as of July 30, 2010, Source: Geeknet SEC Form 10-Q for the quarterly period ended June 30, 2010.

2. Shares outstanding is taken from the most recently filed quarterly or annual report and Market Cap is calculated.


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

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

2 Comments – Post Your Own

#1) On August 22, 2010 at 7:30 AM, gnulaw (51.19) wrote:

Langone & "partners" now control sixty seven (67%) percent of the Geeknet  (GKNT) Board of Directors.

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#2) On January 11, 2011 at 7:03 PM, gnulaw (51.19) wrote:

Langone & "partners" now control seventy eight (78%) percent of the Geeknet (GKNT) Board of Directors.

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