One Horizon Group to Resolve Litigation with Zhanming Wu
September 28 2018 - 08:19AM
One Horizon Group (NASDAQ: OHGI) is pleased to report that the
Company and Zhanming Wu have reached a tentative agreement, which
will resolve all of the issues raised in the two actions that Mr.
Wu commenced earlier this year in Delaware against the Company and
its Directors.
The parties to the litigation have come to terms
after several weeks of negotiations and the exchange of proposed
settlement documentation. The Company, its Board of Directors and
Mr. Wu have directed their respective counsel to finalize the
necessary documents, which they look forward to executing early
next week.
“Sometimes in business as in life there are
misunderstandings that must be addressed and resolved,” said Mark
White, Founder and CEO of One Horizon Group. “Always,
communication is key and we are pleased that we are putting our
differences with our shareholder, Mr. Wu, behind us and we
appreciate Mr. Wu and his counsel working with us to diligently
resolve these matters. With the litigation behind us, we will be
able to turn our complete attention to further growing our business
and delivering value to our shareholders, including Mr. Wu.”
Safe Harbor Statement
This news release may contain “forward-looking”
statements. These forward-looking statements are only predictions
and are subject to certain risks, uncertainties and assumptions
that could cause actual results to differ from those in the forward
looking-statements. Potential risks include such factors as the
inability to enter into agreements with parties with whom we are in
discussions, the uncertainty of consumer demand for the Company’s
products, as well as additional risks and uncertainties that are
identified and described in the Company’s SEC reports. Actual
results may differ materially from the forward-looking statements
in this press release. Statements made herein are as of the date of
this press release and should not be relied upon as of any
subsequent date. The Company does not undertake, and it
specifically disclaims, any obligation to update any
forward-looking statements to reflect occurrences, developments,
events or circumstances after the date of such statement.
About One Horizon Group,
Inc.
One Horizon Group, Inc. (NASDAQ: OHGI) is a
media and digital technology acquisition and software company,
which owns Love Media House, a full-service music production,
artist representation and digital media business, Horizon Secure
Messaging, an Asia-based secure messaging business, and Banana
Whale Studios, a gaming software development company. OHGI also
holds a majority interest in 123Wish, a subscription-based,
experience marketplace. For more information, please
visit http://www.onehorizoninc.com
Darrow Associates Contacts for OHGI
Bernie Kilkelly/Jordan Darrow
(516) 236-7007
bkilkelly@darrowir.com