Dec 27 (Reuters) - VisionChina Media Inc:
* Announces filing of lawsuit against former shareholders of digital media
group company limited
* Seeking relief including declaration that they are not obligated to pay
further installments totaling $60 million
* Notice alleges that defendants induced co to pay a grossly inflated price to
purchase digital media group's shares
* Seeking declaration that co, vision best are not obligated to pay any unpaid
escrowed cash or shares in escrow fund
* Seeking restitution of all cash and stock wrongfully received by the
defendants as a result of the unlawful scheme
* Seeking compensatory damages in amount to be determined at trial but not less
than $80 million
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Announces filing of lawsuit against former shareholders of digital media
group company limited
* Seeking relief including declaration that they are not obligated to pay
further installments totaling $60 million
* Notice alleges that defendants induced co to pay a grossly inflated price to
purchase digital media group's shares
* Seeking declaration that co, vision best are not obligated to pay any unpaid
escrowed cash or shares in escrow fund
* Seeking restitution of all cash and stock wrongfully received by the
defendants as a result of the unlawful scheme
* Seeking compensatory damages in amount to be determined at trial but not less
than $80 million
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.