InfoUSA, the Omaha, Nebraska, based data-processing and marketing monolith owned by Vinod Gupta faces the prospect of being delisted from the NASDAQ because the company has not filed its annual reports for the 2007 fiscal year, and again for the period ending March 31.
The company’s failure to file is due to ongoing litigation involving its shareholders, which has been stayed until June 30. In 2005, shareholder hedge funds Dolphin Limited Partnership and Dolphin Financial Partners filed suit in a Delaware court alleging that InfoUSA founder and CEO Vinod Gupta had spent corporate funds on personal expenses. link
That discreetly worded phrase, “personal expenses,” refers to the extreeeemly questionable corporate-funded generosity dear Vinod showered on his pals, Bill and Hillary Clinton. Among the allegations:
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Mr. Gupta’s spending on the Clintons is part of a pattern of improper company expenditures for things like luxury cars, jets and houses, as well as a yacht that is notable for being one of the few to have an all-female crew. link
InfoUSA made $2.1 million in quarterly payments to Mr. Clinton from July 2003 to April 2005, and in October 2005 entered into a new three-year agreement to pay him $1.2 million. It also gave him an option to buy 100,000 shares of infoUSA stock, with no expiration date. link
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InfoUSA paid $18,480 in January 2004 to fly Mrs. Clinton “and her four-person entourage†to New York from New Mexico, where she had made a campaign appearance and attended a book signing. Campaign finance records show that her committee, Friends of Hillary, made a reimbursement of $2,127 for that flight. link
InfoUSA has spent nearly $900,000 since 2001 flying the Clintons to domestic and international locations and political events…InfoUSA paid for use of a jet plane, the 80-foot yacht American Princess, condos in Hawaii and California and a University of Nebraska-Lincoln stadium box. link