Amp'd Mobile tries to recoup funds

Remember when Amp'd Mobile was an MVNO with hundreds of millions of dollars in VC? After more than six months since it sold its subscribers to Prexar Mobile, the company is now looking to recover funds from at least 20 entities. Former CEO Peter Adderton is one target: Amp'd wants $1.15 million back from the executive because he "refused to perform certain aspects of his employment" and "threatened to take actions that would damage" the company. Amp'd is also looking to recoup funds from Merrill Lynch, GE Capital, Latham & Watkins, MTV Networks on Campus, Playboy and others.

Amp'd has also hired William Morris Agency, Quinn Pacific and Mosaic Capital to shop its assets, which include the company's brand, trademarks, content studio and content like "Lil' Bush."

For more on Amp'd's latest bankruptcy challenge:
- read this article from The Deal