WATA Finally Getting Sued?

[GPX | 1,370]

4 hours ago, Gulag Joe said:

I have insider information:

You have actual evidence of no wrong doing?

[Gulag Joe | 584]

20 minutes ago, GPX said:

You have actual evidence of no wrong doing?

Have you seen the docket?

[GPX | 1,370]

3 minutes ago, Gulag Joe said:

Have you seen the docket?

Was responding to your claim of insider info (“nothing will happen”). I guess we’ll see by the end of the year where there should be an update or a verdict of some sort. 

My hunch is that there was some wrong doing. I just don’t know to what extent.

[Gulag Joe | 584]

CU has been sued for market manipulation a hundred times over. Remember awhile back some guy on here and Reddit said he was a lawyer and was going to start a lawsuit to sue them and it got tons of traffic and millions of views? Those threads have since been deleted. Anyway, these types of accusations are nothing new, and CU is undefeated. Let’s wait and see if there’s a docket for this, but I will bet my sealed Al Unser Jr Turbo Racing that nothing is going to happen.

here’s the link to one of those old substacks that has the now deleted Reddit post- https://retrostack.substack.com/p/breaking-news-a-federal-class-action

 

Edited October 26, 2023 by Gulag Joe

[CIB_Wholesale | 418]

1 hour ago, Gulag Joe said:

How do you get VGS feedback?

 

 

1. first get 1.56 million dollars

2. then go to  the BUY/SELL/TRADE section

3. inside you'll find a button called 'start a new topic'

4. post ur items (you're looking for a great buyer experience --- not money ---  so since you have 1.56 M dollars you could probably rack up feedback by selling at a significant discount to price charting. This will almost guarantee good FB)

Edited October 26, 2023 by CIB_Wholesale

[OptOut | 8,889]

11 minutes ago, Gulag Joe said:

CU has been sued for market manipulation a hundred times over. Remember awhile back some guy on here and Reddit said he was a lawyer and was going to start a lawsuit to sue them and it got tons of traffic and millions of views? Those threads have since been deleted. Anyway, these types of accusations are nothing new, and CU is undefeated. Let’s wait and see if there’s a docket for this, but I will bet my sealed Al Unser Jr Turbo Racing that nothing is going to happen.

here’s the link to one of those old substacks that has the now deleted Reddit post- https://retrostack.substack.com/p/breaking-news-a-federal-class-action

 

The alleged wrongdoing began and mostly occurred BEFORE CU bought WATA, although I believe the false advertising and unfulfilled customer orders continued for some time after CU completed their purchase of the company.

Whether or not CU has been erroneously sued before says NOTHING about the merits of the current case against them, especially seeing as a lot of the actual harm committed here was done by the fledgeling WATA, which they are also now culpable for as their parent company.

You can seethe over this court-case as much as you want, but win or lose, the damage has already been done. The Emperor's ding-dong is exposed for all to see.

[final fight cd | 187]

33 minutes ago, Gulag Joe said:

CU has been sued for market manipulation a hundred times over. Remember awhile back some guy on here and Reddit said he was a lawyer and was going to start a lawsuit to sue them and it got tons of traffic and millions of views? Those threads have since been deleted. Anyway, these types of accusations are nothing new, and CU is undefeated. Let’s wait and see if there’s a docket for this, but I will bet my sealed Al Unser Jr Turbo Racing that nothing is going to happen.

here’s the link to one of those old substacks that has the now deleted Reddit post- https://retrostack.substack.com/p/breaking-news-a-federal-class-action

 

First of all: what da fug is a docket?
 

second: has any of these older “lawsuits” got to where a judge reviewed it and decided not to dismiss anything? 
 

[RH | 4,915]

Here's what I'm not sure about all of this--who exactly is getting brought to court?  We're gamers here, and so was Pat Contri, so we talk mostly about Wata.  But from all of the history that I've been reading about, Wata has certainly done a lot of wrong doing in all of this, but Halperin has been manipulating markets through his business since the 80's.

Considering that Wata is now owned by CU and suing them is really just suing an entity and not "people", my gut tells me that they may only get hit with a false advertising verdict.  I mean... that's pretty cut and dry.  They put those time frames all over their site and emails and when they could have easily changed them week-to-week, if necessary due to demand, they didn't.  Sure they had banners that said "your orders may take longer than expected due to high demand", but when you tell people your order will be filled in 3 months and it takes over a  year, that's a flat-out lie.

But the racketeering allegations, I think they 100% need to stick but the thing is I'm not sure how they can stick on HA but not on also on Wata.  Judges are slow to make these judgements because the judicial system is suppose to exercise extreme prudence when there is lack of strong evidence, and I 100% get why this can be a hard crime to pin.  But Halperin and HA have a long history of this behavior.  Eventually, when you see someone continually being involved in RICO-esque schemes, it presents a larger cloud of evidence that goes "beyond a reasonable doubt".

Jim has done this before.  The judge will be made well aware of that fact.  That can be a big factor. I am doubtful that the RICO accusations will stick, but I'm also not convinced it's an "impossible" verdict.  I think it is possible in this case, but we just need to see what comes out in discovery.  If Halperin got sloppy in his communications, then there may be considerable evidence in emails and such to damned him and his company.

Edited October 26, 2023 by RH

[a3quit4s | 4,102]

7 minutes ago, final fight cd said:

First of all: what da fug is a docket?
 

second: has any of these older “lawsuits” got to where a judge reviewed it and decided not to dismiss anything? 
 

Is the docket the schedule of the court for the day? I think they meant the court filings for the case which I think goes over the charges brought against and the evidence to support crimes being committed. If anyone has a link to the suit I’d be grateful, I was trying to find it but came up short. 

Edited October 26, 2023 by a3quit4s

[CIB_Wholesale | 418]

5 minutes ago, a3quit4s said:

Is the docket the schedule of the court for the day? I think they meant the court filings for the case which I think goes over the charges brought against and the evidence to support crimes being committed. If anyone has a link to the suit I’d be grateful, I was trying to find it but came up short. 

United States District Court, Central District of California, Southern Division. Case no. 8:22-cv-00967-DOC-KES

 

July 28, 2022

Filing 31 TEXT-ONLY ENTRY - RECEIVED Notice of Receipt of Electronic Case Transfer from District of Colorado, 1:22-cv-01873 filed 7/28/2022. (rolm)

Edited October 26, 2023 by CIB_Wholesale

[Gulag Joe | 584]

10 minutes ago, CIB_Wholesale said:

United States District Court, Central District of California, Southern Division. Case no. 8:22-cv-00967-DOC-KES

 

July 28, 2022

Filing 31 TEXT-ONLY ENTRY - RECEIVED Notice of Receipt of Electronic Case Transfer from District of Colorado, 1:22-cv-01873 filed 7/28/2022. (rolm)

Last action was over a year ago. CU had the case moved to Colorado likely because the charges were prior to CU’s acquisition of wata. Sounds like nothing is going to happen other than maybe 3 dudes will get their money back for inaccurate turnaround times on grading. Hey my games took more than a year to grade too, maybe I need to sue!

[CIB_Wholesale | 418]

3 minutes ago, Gulag Joe said:

Last action was over a year ago. CU had the case moved to Colorado likely because the charges were prior to CU’s acquisition of wata. Sounds like nothing is going to happen other than maybe 3 dudes will get their money back for inaccurate turnaround times on grading. Hey my games took more than a year to grade too, maybe I need to sue!

I just want the judge to open up a 9.0A+ and say

 

'oh wow calling this a 9/10 is a crime against gaming'

[Gulag Joe | 584]

For the racketeering, the plaintiffs will have to prove that their games were intentionally held indefinitely so Wata could sell other, similar games for the high amounts. I think the only remote way for this to work is if one of them had, for example, Tecmo Bowl, which sold for $144k. And then the next one sold for half that amount. But because Wata held on to their game for so long, the plaintiff couldnt capitalize on the sale of their game because wata wanted to sell their own game first.

 

Sounds even clearer that nothing is going to happen.

[CIB_Wholesale | 418]

Just now, Gulag Joe said:

For the racketeering, the plaintiffs will have to prove that their games were intentionally held indefinitely so Wata could sell other, similar games for the high amounts. I think the only remote way for this to work is if one of them had, for example, Tecmo Bowl, which sold for $144k. And then the next one sold for half that amount. But because Wata held on to their game for so long, the plaintiff couldnt capitalize on the sale of their game because wata wanted to sell their own game first.

 

Sounds even clearer that nothing is going to happen.

 

 

the answers are probably in the 'ask the winner of the auction if they want to sell it' button on HA

 

why arent those comps published?

[OptOut | 8,889]

3 minutes ago, Gulag Joe said:

Sounds even clearer that nothing is going to happen.

You're just talking to yourself at this point dude. How many times do you need to tell yourself this to make you feel better? And, more to the point, WHY? Isn't it obvious that the damage has already been done. Do you really think sealed prices are going to bounce back to where they were after this?

[Gulag Joe | 584]

10 minutes ago, OptOut said:

You're just talking to yourself at this point dude. How many times do you need to tell yourself this to make you feel better? And, more to the point, WHY? Isn't it obvious that the damage has already been done. Do you really think sealed prices are going to bounce back to where they were after this?

Why do my words bother you so much? You can use your posts to hate on Wata and the hobby all you want. I’m going to continue to spread positivity. Now say it with me: nothing is going to happen!

[OptOut | 8,889]

2 minutes ago, Gulag Joe said:

Why do my words bother you so much? You can use your posts to hate on Wata and the hobby all you want. I’m going to continue to spread positivity. Now say it with me: nothing is going to happen!

I'm not really bothered, I'm just feel kinda... pity? I guess? You have clearly invested a lot in this, whether it be emotional, financial, whatever. It is just a little sad to see, you are one of their victims too, clearly.

[Gulag Joe | 584]

1 minute ago, OptOut said:

I'm not really bothered, I'm just feel kinda... pity? I guess? You have clearly invested a lot in this, whether it be emotional, financial, whatever. It is just a little sad to see, you are one of their victims too, clearly.

I’ve never bought a graded game in my life. I’m an OG sealed collector. Hey, at least we are good content creators on VGS. This is a “hot thread”!

[CIB_Wholesale | 418]

7 minutes ago, OptOut said:

I'm not really bothered, I'm just feel kinda... pity? I guess? You have clearly invested a lot in this, whether it be emotional, financial, whatever. It is just a little sad to see, you are one of their victims too, clearly.

[CIB_Wholesale | 418]

16 minutes ago, Gulag Joe said:

Why do my words bother you so much? You can use your posts to hate on Wata and the hobby all you want. I’m going to continue to spread positivity. Now say it with me: nothing is going to happen!

positivity is inaction? seems like a insider

now say it with me:

 

Nothing is going to halpren

[Gulag Joe | 584]

6 minutes ago, CIB_Wholesale said:

Nothing is going to halpren

That’s pretty good!

[CIB_Wholesale | 418]

3 minutes ago, Gulag Joe said:

That’s pretty good!

May 27, 2022

Filing 16 NOTICE of Deficiency in Electronically Filed Pro Hac Vice Application RE: APPLICATION of Non-Resident Attorney Jonathan D. Parente to Appear Pro Hac Vice on behalf of Defendants Collectors Universe, Inc., Wata, Inc. (Pro Hac Vice Fee - $500 Fee Paid, Receipt No. ACACDC-33373995) #14 . The following error(s) was/were found: Local Rule 5-4.3.4 Application not hand-signed. Other error(s) with document(s): Please note that electronic, image or stamp signatures are not allowed for either applicant or local counsel. See Instructions for Applicants (1). (lt) [Transferred from California Central on 7/28/2022.]                 has anyone else noticed the WATA docket is FULL of ERRORS       how unlike them

[CIB_Wholesale | 418]

https://www.coinworld.com/news/us-coins/david-hall-dumped-from-companies-he-co-founded.html

 

https://www.numismaticnews.net/us-coins/collectors-universe-to-be-privately-owned

 

https://www.nasdaq.com/articles/why-collectors-universe-stock-traded-up-18-today-2021-01-20

 

https://www.ocbj.com/finance/collectors-universe-gets-45b-valuation/

 

https://www.beckett.com/news/sale-of-psa-parent-company-collectors-universe-completed/

https://www.ocbj.com/news/weekly-news/card-counters/

 

https://www.businesswire.com/news/home/20210714005598/en/Collectors-Universe-Expands-Into-Video-Game-Authentication-Grading-with-Acquisition-of-Wata-Games

Edited October 26, 2023 by CIB_Wholesale

[WalterWhiteJr. | 1,162]

One point that I find interesting that has NOT been brought up in the lawsuit (as far as I know), is the fact that one of Wata's business practices is to inform customers if the game they submitted is "valued" higher than what the customer said its declared value was for Liability* purposes. In this scenario, Wata forces the customer - while they literally have the customer's game in their physical possession - to pay substantially more if they would like the grading to be completed. What does Wata base the "value" of the game on you ask for these purposes? Oh glad you asked! Heritage Auctions results. Which Wata has ALLEGEDLY played a substantial role in manipulating said prices, and therefore profits off of this "Liability" "value" scam. See where I am going with this? It is all just gross.

 

* "Liability is included in the price of games valued below $1,000. Games valued from $1,000 to $2,499 are charged more for liability, on a sliding scale. Games valued at and over $2,500 are charged an additional 2% of their declared value. If your order contained undervalued games WE MAY ADJUST PRICING FOR CORRECT LIABILITY COSTS."

- Source - www.watagames.com/what-we-do/pricing

Edited October 26, 2023 by WalterWhiteJr.

[WalterWhiteJr. | 1,162]

@Gulag Joeyou seem like a fine guy, I just continue to find it head scratching as to why you feel the need to defend Wata at every turn. Folks manipulated the market and lots of people lost a TON of money due to said manipulation. This is not that difficult to decipher. Read the room.