UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
_______________________________
FORM
8-K
_______________________________
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934,
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June
6, 2006
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0-25053
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Date
of Report (Date of earliest event
reported)
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Commission
File Number
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(Exact
name of registrant as specified in its charter)
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Delaware
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14-1782422
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(State
or other jurisdiction of incorporation or
organization)
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(I.R.S.
Employer Identification
Number)
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110
East Broward Boulevard, Suite 1400
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Fort
Lauderdale, Florida 33301
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(Address
of Principal Executive Offices) (Zip Code)
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(954)
769-5900
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(Registrant’s
telephone number, including area code)
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This
Report includes forward-looking statements related to theglobe.com, inc. that
involve risks and uncertainties, including, but not limited to, risks and
uncertainties relating to the outcome of pending litigation, and other risks.
These forward-looking statements are made in reliance on the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995. For further
information about these and other factors that could affect theglobe.com’s
future results and business plans, please see the Company’s filings with the
Securities and Exchange Commission, including in particular our Annual Report
of
Form 10-K for the year ended December 31, 2005 and our Quarterly Report on
Form
10-Q for the quarter ended March 31, 2006. Copies of these filings are available
online at http://www.sec.gov. Prospective investors are cautioned that
forward-looking statements are not guarantees of performance. Actual results
may
differ materially and adversely from management expectations.
Item
8.01. Other Events
On
June
1, 2006, MySpace, Inc. (“MySpace”), a Delaware corporation, filed a lawsuit in
the United States District Court for the Central District of California against
theglobe.com, Inc. (the “Company”). We were served with the lawsuit on June 6,
2006. MySpace alleges that the Company sent unsolicited and unauthorized
commercial email messages to MySpace members using MySpace user accounts
improperly established by the Company, that the user accounts were used in
a
false and misleading fashion and that the Company's alleged activities
constituted violations of the CAN-SPAM Act, the Lanham Act and California
Business & Professions Code § 17529.5, as well as trademark infringement,
false advertising, breach of contract, breach of the covenant of good faith
and
fair dealing, and unfair competition. MySpace seeks monetary penalties, damages
and injunctive relief for these alleged violations. It asserts entitlement
to
recover "a minimum of" $62.3 million damages, in addition to three times the
amount of MySpace's actual damages and/or disgorgement of the Company's
purported profits from alleged violations of the Lanham Act, punitive damages
and attorneys’ fees. The Company has not yet responded to the complaint but
intends to vigorously defend itself. It is not possible at this early date
to
predict the outcome of this litigation nor any reasonable estimate of the
possible range of any loss or damage to us. An adverse outcome could materially
and adversely affect our results of operations and financial position and may
utilize a significant portion of our cash resources.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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| Dated:
June 9, 2006 |
theglobe.com,
inc.
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By: |
/s/ Edward
Cespedes |
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Edward
Cespedes, President |