Brief: Sito Mobile says complaint filed against co in NY supreme court on Nov 3

Sito Mobile

09/11/2017 22:31

Nov 9 (Reuters) - Sito Mobile Ltd  SITO.O  
    * Sito Mobile Ltd - on Nov 3, a complaint was filed against 
co in 
Supreme Court of State of New York 
    * Sito Mobile - complaint filed by Tar Sito Lendco, an 
entity 
owned and controlled by Julian Singer, son of Karen Singer, 
formerly substantial stockholder of co 
    * Sito Mobile - Tar is revenue participant and collateral 
agent 
under that certain revenue sharing and note purchase agreement 
dated Oct 3, 2014 
    * Sito Mobile - complaint alleges that co breached its 
obligations to undertake best efforts to diligently pursue 
monetization of patents 
    * Sito Mobile - complaint also alleges other alleged minor 
technical and curable defaults 
 
Source text: (http://bit.ly/2yMqMX0) 
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