Update in Class Action RICO Lawsuit Against Full Tilt Poker

Full Tilt PokerPhil Gordon announced today that he has succeeded in obtaining a dismissal from the class action RICO lawsuit filed against Full Tilt Poker and individuals associated with Full Tilt.

The dismissal with prejudice was entered on July 20, 2011. Mr. Gordon is the first and only party that has been dismissed from the case. The plaintiffs in the RICO case allege broad claims of conspiracy among Full Tilt and related entities and individuals to deprive players of money that they deposited with the Full Tilt poker site.

Mr. Gordon, who is a professional poker player, never participated in any management decisions or operational roles at Full Tilt. The dismissal occurred just prior to a preliminary injunction hearing in which the plaintiffs moved to impose a constructive trust on Full Tilt, as well as for other relief. A constructive trust, if imposed, could mean that Full Tilt’s funds could be held under court supervision during the pendency of the case. None of the other defendants’ motions for dismissal were granted.

STATEMENT BY PHIL GORDON
“I have always held myself to the highest standards of conduct. As part of that, I have repeatedly emphasized that Full Tilt should repay the U.S. players as quickly as possible.”

STATEMENT BY PHIL GORDON’S LAWYER, MAURICE SUH OF GIBSON, DUNN & CRUTCHER LLP
“No money changed hands as part of this dismissal. The allegations about Mr. Gordon in the lawsuit were completely wrong, and I am glad that the plaintiffs agreed with us on that score early in the lawsuit. Mr. Gordon believes that Full Tilt’s top priority should be the repayment of all players.”