The customer suing Epik and its management over a fumbled $327,000 domain deal has asked a US court to prevent the company from selling off its assets and “absconding”.
Matthew Adkisson has amended his fraud complaint, first filed in March, to demand an injunction:
enjoining Defendants from transferring, liquidating, converting, encumbering, pledging, loaning, selling, concealing, dissipating, disbursing, assigning, withdrawing, granting a lien or security interest or other interest in, or otherwise disposing of Adkisson’s Escrow Funds and any other amounts owed to Adkisson, including but not limited to by transferring, liquidating, converting, encumbering, pledging, loaning, selling, concealing, dissipating, disbursing, assigning, withdrawing, granting a lien or security interest or other interest in, or otherwise disposing of any of Defendants’ assets or companies that Adkisson’s Escrow Funds were used in connection with
The amendment follows tweets from current Epik CEO Brian Royce which strongly suggested the company is in the process of selling off its assets. The complaint quotes former CEO and majority shareholder Rob Monster as confirming a sale was being “finalized”.
“If Royce, Monster, and Epik are allowed to sell Epik or its assets, consumers like Adkisson are highly unlikely to be repaid for the funds that Royce, Monster, and Epik and misappropriated,” the complaint says.
Adkisson attempted to buy the domain nourish.com via Epik and its “escrow” service last year, but after the sale fell through the company did not return his money. He now claims Epik was illegally mingling its escrow funds with its general operations fund.
The amended complaint now includes several citations from TrustPilot — other customers who says they bought domains only to see Epik take their cash and not hand over the domain.
While Epik has admitted that it owes Adkisson money, it has otherwise denied any wrongdoing. After the amendment, Royce withdrew his motion to dismiss the case.