LA Times Reports Full Tilt to Be Sold to European Investors
The Los Angeles Times is reporting Full Tilt Poker is set to be bought by a group of European investors, setting the stage for U.S. players to be paid the roughly $150 million owed to them.
In the article published just a few hours ago, reporter Nathaniel Popper says:
"Attorneys associated with Full Tilt said the company signed an agreement Thursday with a group of investors who would put up enough money to pay back players and in doing so attain a majority stake in Full Tilt's Irish parent company, Pocket Kings."
He continues on to say the deal is part of broader negotiations to settle Full Tilt's civil lawsuit and criminal indictment and that the attorneys spoke anonymously due to the ongoing negotiations with the Department of Justice.
Popper also reports Phil Ivey is set to withdraw his lawsuit against Tiltware LLC in Nevada state court today and quotes Ivey's attorney, David Chesnoff, as saying:
"Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid."
It's been confirmed that Phil Ivey has voluntarily dismissed the case without prejudice. You can see the update if you search the Clark County Courthouse website.