And consequently Brad Greenspan Intermix founder cried fraud and pointed the finger at former Intermix Chief Executive Richard Rosenblatt. Greenspan has also demanded that a federal investigation be debuted to analyze the sale of the social networking website.

"The answer to how News Corp. was fortunate enough to buy one of the largest and most valuable Internet companies for pennies on the dollar is now clear," stated Intermix's largest individual shareholder and Myspace founder Brad Greenspan. "I expect as the authorities get their arms around what happened, that this transaction will be unwound and Myspace will be independent. An independent Myspace is significantly better for its users and shareholders."

If Greenspan's allegations are proven to be true and MySpace.com was intentionally undervalued, Intermix's shareholders lost a tad more than just pocket change. A few billions more, considering that Greenspan's evaluation indicates a market value of $20 billion for MySpace.com and a revenue growth rate of in excess of 1,200% per year. He also claims that a total of $12 billion have been added to the value of the social networking website in just one year since its sale.

"For the first time the public can read what took place behind the scenes and how shareholders were blatantly misled into voting for a quick and unfair sale to News Corp.", added Greenspan. "Deliberate steps were taken to withhold and manipulate information; money was improperly gained and laws were broken. It is my hope that regulatory bodies will begin their investigations quickly before evidence is destroyed."