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Vinod "Friend of Bill" Gupta's InfoUSA Receives 2nd NASDAQ Warning

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 ...

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