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Fluid Music Canada faces lawsuit from PFH Investments over debenture claims |
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Written by THE CANADIAN PRESS
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Friday, 22 August 2008 |
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TORONTO - Fluid Music Canada Inc. (TSX:FMN) is being sued by PFH Investments Ltd. over a debenture dispute.
Fluid Music, which handles distribution of unsigned and relatively unknown musicians through online platforms, said Tuesday that PFH is seeking to reinstate a debenture which was repurchased in June from the proceeds of the company's initial public offering of stock.
PFH is also seeking unspecified damages.
Fluid said that it is talking to lawyers about its options.
The company "intends to vigorously defend the claim which it believes to be without merit," it said in a release.
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