Lawsuit Against Frankly Dismissed
14 Mar, 2018, 20:55 ET
SAN FRANCISCO, March 14, 2018 /CNW/ -- Frankly Inc. (TSX VENTURE: TLK), a leader in transforming local TV broadcasters and media companies by enabling them to publish and monetize their digital content across multiple platforms, announces that, three days before the hearing of Frankly's motion to dismiss the action commenced by plaintiffs Gannaway Entertainment, Inc., Albert C. Gannaway III, and Samantha Gannaway, the plaintiffs have voluntarily dismissed their case. The matter was filed in July 2017 in United States District Court for the Northern District of California against Frankly, its CEO, CFO/COO and others alleging violations of United States securities laws, fraud and breach of fiduciary duties, and seeking in excess of USD $15 million in damages, arising out of Frankly's acquisition of Gannaway Web Holdings, LLC ("WorldNow") from GEI and other parties in 2015.
Frankly (TSX VENTURE: TLK) builds an integrated software platform for media companies to create, distribute, analyze and monetize their content across all of their digital properties on web, mobile and TV. Its customers include NBC, ABC, CBS and FOX affiliates. The company is headquartered in San Francisco with major offices in New York. To learn more, visit www.franklyinc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This release includes forward-looking statements regarding Frankly and its business. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking statements in this release include, without limitation, statements relating to Frankly's introduction of new products and services. Forward-looking events and circumstances discussed in this release may not occur in any expected timeframes or at all. The actual results of circumstances could differ materially from any forward-looking statement as a result of known and unknown risk factors and uncertainties affecting the company.
Forward-looking information is based on assumptions, estimates, analysis and opinions of management that it believes to be relevant and reasonable in light of its experience and perception of trends, current conditions and expected developments, and other circumstances as of the date such statements are made. Although Frankly has attempted to identify important factors that could cause actual results to differ materially from those contained in any forward-looking statement, there may be other factors that cause results not to be as anticipated.
No forward-looking statement can be guaranteed and accordingly, readers should not place undue reliance on forward-looking information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Frankly undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Frankly Inc.
For further information: Company Contact: Steve Chung, CEO, [email protected]; Frankly Investor Relations Contact: Matt Glover or Tom Colton, Liolios Group, Inc., 949-574-3860, [email protected], http://www.franklyinc.com
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