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InfoUSA Faces delisting

By LIFS June 11, 2008 at 12:33 PM
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Vinod Gupta's InfoUSA, the Omaha, Neb., based list marketing company faces potential delisting from the NASDAQ stock exchange for failing to file its 2007 annual report and first quarter 2008 report.

 
The company is being sued by shareholder hedge funds alleging that InfoUSA founder Gupta spent corporate funds on personal expenses. The lawsuit alleges that InfoUSA paid Bill Clinton more than $3 million for nominal work and spent nearly $900,000 since 2001 to fly Bill and Hillary Clinton to domestic and international locations and political events. 

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Business | Magazine | June 2008

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