Justice Denied Destiny Relief in Respect of Three (3) of the Five (5)
TORONTO, Jan. 24 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media
distribution company, is pleased to announce that its $25 million
counterclaim against Destiny Software Productions, Inc. and Destiny
Media Technologies, Inc. (DSY-TSX, DSNY-OTCBB), ("Destiny") in respect
of its claim for defamation, breaches of the Trade-marks Act and Competition Act have been allowed to proceed by the Ontario Superior Court of Justice.
On or about June 4, 2010, Destiny et al. brought a motion for summary
judgment to have YANGAROO et al.'s counterclaim struck in its entirety.
On January 20, 2011, Mr. Justice Kershman denied Destiny et al.'s
relief in respect of three (3) of the five (5) grounds and decided that
there should be no order as to costs.
With respect to the claims for breaches of the Trade-marks and Competition Acts, the Court determined that a trial was necessary as some of the
statements made by Destiny could arguably be construed as misleading.
With respect to the claim for defamation, the Court further determined
that a trial was necessary as again, some of the statements made by
Destiny may be defamatory resulting in the burden being placed on
Destiny to defend those statements.
YANGAROO CEO, Scott Wambolt has stated he is pleased that the Court has
ruled in our favour and allowed YANGAROO's counterclaim to proceed and
notes that "We believe it is important that investors have a full open
and honest disclosure of the facts on this matter, and we will work to
keep shareholders fully aware of all the developments as they occur".
Interested parties can refer to the attached link for a full disclosure
of the facts. http://www.yangaroo.com/LegalDocuments.aspx
YANGAROO's patented Digital Media Distribution System (DMDS) is a
leading secure B2B digital delivery solution for the music and
advertising industries. DMDS is a Web-based delivery system that
pioneers secure digital file distribution by incorporating biometrics,
high-value encryption and watermarking. DMDS replaces the physical
distribution of audio and video content for music, music videos, and
advertising to television, radio, media, retailers, award shows and
other authorized recipients with more accountable, effective, and far
less costly digital delivery of broadcast quality media via the
Named one of Canada's Top 100 Tech Companies for 2009 by Canadian Business, YANGAROO has offices in Toronto, New York, Los Angeles, and London,
U.K. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the
symbol YOO and in the U.S. under OTCBB:YOOIF. For further information,
please contact Scott Wambolt at 416-534-0607 ext 111 or visit www.yangaroo.com.
The statements contained in this release that are not purely historical
are forward-looking statements and are subject to risks and
uncertainties that could cause such statements to differ materially
from actual future events or results. Such forward-looking statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The TSX Venture Exchange does
not accept responsibility for the adequacy or accuracy of this release.
SOURCE YANGAROO Inc.
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