SINGAPORE (July 17): Shares in YuuZoo, the creator of an online platform that combines social networking, e-commerce and gaming, are down 0.1 Singapore cent or 1.4% at 6.9 Singapore cents as at 11.01am.

In a pre-market filing this morning, YuuZoo says it is to appointing an independent third party to investigate the claims and statements raised by the Business Times over the last few months, and to report its findings and recommendations to Anthony Williams, the company’s lead independent director and a partner at the world’s largest law firm.

(See: Monkey business at YuuZoo?)

Also, Thomas Zilliacus, the executive chairman of the company, who has not been accused of any wrongdoing, has informed the board of the company that for the duration of the independent review, which he has proposed and the board has approved, will step down from his executive position, to ensure that there can be no claims of executive interference in the process.

YuuZoo also wishes to inform that it has written to BT, formally requesting at least half of the space that was given to the opinion pieces that on July 5, July 6 and July 11 made several claims and allegations against YuuZoo, to reply to those allegations as well as to the claims made in the articles published on May 4, 5 and 6.