Abandons Effort to Settle Lawsuit

7 October 1999 announced that it has withdrawn from mediation efforts to settle a 1996 securities class-action lawsuit against the company and some of its executives.

According to a GalaxiWorld press release, the lawsuit will probably go to trial in early 2000 after the completion of all depositions. The release adds, "The company expects that substantial management time and financial resources will be required to defend and manage these lawsuits."

GalaxiWorld, which operates a real-money site at as well as Playboy's fun-money site at, is also defending itself from another class action suit filed in 1998.

The company did not disclose the nature of the cases nor who the plaintiffs are, however, a reliable source told IGN that neither case involves Internet gambling activity.