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netLibrary being sued

Venture partner suing NetLibrary
Provider of capital accuses company of inflating sales figures

Boulder-based NetLibrary, a money-losing electronic book distributor hard
hit by the dot-com bust, is being sued by a venture capital partner for
allegedly cooking company books with inflated sales figures.

Parthenon Investors of Boston said it was fooled into investing millions of
dollars into the 3-year-old Internet startup only to find out later that the
company had overstated annual revenues by more than 30 percent.

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