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Its corporate headquarters are located in Boca Raton, Florida, with additional offices in California, New York, and Taiwan.
The Federal Arbitration Act ("FAA") applies to arbitration agreements affecting interstate commerce. When pressed on details, Ballou declined to comment further.But why Friend Finder Networks has held onto millions of accounts belonging to customers is a mystery, given that the site was sold to Penthouse Global Media in February."We are aware of the data hack and we are waiting on Friend Finder to give us a detailed account of the scope of the breach and their remedial actions in regard to our data," said Kelly Holland, the site's chief executive, in an email on Saturday.When reached, Friend Finder Networks confirmed the site vulnerability, but would not outright confirm the breach."Over the past several weeks, Friend Finder has received a number of reports regarding potential security vulnerabilities from a variety of sources.Immediately upon learning this information, we took several steps to review the situation and bring in the right external partners to support our investigation," said Diana Ballou, vice president and senior counsel, in an email on Friday."While a number of these claims proved to be false extortion attempts, we did identify and fix a vulnerability that was related to the ability to access source code through an injection vulnerability," she said."Friend Finder takes the security of its customer information seriously and will provide further updates as our investigation continues," she added.After discovering that users had been using the service to seek sexual partners, he launched Adult Friend Finder as a spin-off, followed later by other spin-offs dealing with different regions and niches.Much of the company's growth without investment capital has been attributed to its affiliate program, with more than 500,000 affiliates to date.It has cautioned that, unless it can repay or restructure its obligation, it will face “a material deficiency in our short term liquidity.” With these shortfalls in mind, the company again announced an intention to make an initial public offering of stock, representing a 49% stake in the company, with plans to use the proceeds to pay down its debt and become listed on the New York Stock Exchange.The contemplated public offering, scheduled to reach the market on January 27, 2010 was delayed by FFN. Although section four of the FAA provides for the filing of a motion to compel arbitration, courts have held that a motion to dismiss under Rule 12(b)(1) for lack of subject matter jurisdiction "is a procedurally sufficient mechanism to enforce [an] [a]rbitration [p]rovision." GT Sec., Inc. The FAA reflects a strong policy in favor of arbitration.