5th May 2015 07:52
LONDON (Alliance News) - One Media IP Group PLC said Tuesday that it is pursuing a lawsuit against French company Believe SAS, SAAR Srl and Henry Hadaway over its Point Classics catalogue of music tracks.
One Media acquired the catalogue from Telos Holdings Inc last July. It said that a significant number of tracks in the catalogue have been identified as being unauthorised for use worldwide by Believe, pursuant to an alleged physical licence granted by Henry Hadaway to SAAR. The lawsuit has originally been filed by Telos in April of last year.
The litigation is being prosecuted by One Media in the Federal Court in Nashville Tennessee, and is being defended by Believe and SAAR on the grounds of improper jurisdiction, One Media said.
"We have been forced to litigate in this matter to protect the rights engrained in our asset to prevent unauthorised exploitation of this important acquisition," said Chairman and Chief Executive Officer Michael Infante in a statement.
Shares in One Media are untraded Tuesday morning. It last traded at 8.50 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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