VisionChina goes after VC firms in US courts
In February, the former shareholders of Digital Media Group (DMG) (Shareholder Representative Services, Oak Investment Partners XII, Gobi Partners, Inc., Gobi Fund, Inc., and Gobi Fund II, L.P.) filed a counter suit against VisionChina Media, one of China’s largest out-of-home digital television advertising networks on mass transportation systems. VisionChina acquired DMG, previously an industry competitor, in October of 2009. The latest filing counters a suit filed by VisionChina against the former shareholders of DMG in December 2010.
The situation highlights the potential for discrepancies when the fundamentals of a deal do not play out as originally foreseen. It also showcases how Chinese-based companies listed in the US are having...
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