BurnLounge CEO Resigns Amid FTC Probe
BurnLounge CEO Alex Arnold has resigned from the multilevel music store company after the FTC branded the company a pyramid scheme and is seeking ot shut down.
BurnLounge co-founders Ryan Dadd and Stephen Murray along with the company's board unanimously approved the appointed of Alex Arnold's succesor, Grand. D. Johnson. Johnson is currently on the BurnLounge board and is a BurnLounge investor.
BurnLounge co-founder Stephan Murray said, "This change in management is a first step toward a reinforced focus on building the entertainment company we've always envisioned."
The company maintains that it's "revolutionary business model" is legal, and said it is "working to understand and address any legitimate issues and concerns the FTC may have."
A hearing will be held on Tuesday in California Federal Court on the FTC's demands for an injunction and asset freeze.
More BurnLounge News and Articles
- Burnlounge Lawsuit in Hands of US Judge
- BurnLounge in Wired News
- FTC Settles with BurnLounge
- BurnLounge on Wired Blogs
- BurnLounge ordered to surrender records
- BurnLounge Reaches Compromise Injunction with FTC
- BurnLounge and FTC Reach Compromise
- BurnLounge CEO Resigns Amid FTC Probe
- Burnlounge Rep Sued by FTC
- BurnLounge to Present at MUSEXPO 2007
- Gary Slaight Joins Burnlounge Board of Directors
- Burnlounge on CScout
- ITunes and the coming Burnlounge storm
- Music hub BurnLounge releases new version
- Burnlounge unveils new offering at SXSW
- BurnLounge to Revolutionize Digital Media
- BurnLounge to Launch Next Version of Software
- Burnlounge Helps Global Relief Effort
- Interview with Burnlounge CoFounder
- Burnlounge Teams with Live Nation
- BurnLounge Launches Update
- Burnlounge Service Provider Stock Rises
- BurnLounge
- Burn Lounge CEO Addresses Strategies
BurnLounge Profile
Create a Free BurnLounge Rep Listing