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January 8, 2013
12:49 EDTVISNCourt grants contempt motion against VisionChina Media
The New York State Supreme Court held VisionChina Media and its subsidiary, Vision Best Ltd., in contempt of court yesterday for their failure to abide by an earlier court order to transfer $60M into New York State, or agree with Gobi Partners and Oak Investment Partners to an acceptable alternative arrangement, by August 21, 2012. The Court found that VisionChina acted in bad faith.The Court ordered the $60M transfer to ensure that funds are available to partially compensate Gobi and Oak should they prevail in their lawsuit against VisionChina relating to VisionChina's acquisition of a digital advertising company called Digital Media Group, previously owned by Gobi and Oak. Gobi and Oak allege in the lawsuit that VisionChina willfully disregarded its contractual obligation to pay Gobi and Oak for the acquisition.Oak and Gobi plan to pursue additional damages in connection with VisionChina and Vision Best's breach of their agreements to purchase DMG. Oak and Gobi expect total damages to exceed $100M.
News For VISN From The Last 14 Days
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August 17, 2015
17:35 EDTVISNVisionChina Media sees Q3 advertising service revenue $22.6M-$23.2M
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17:34 EDTVISNVisionChina Media reports Q2 EPS (3c) vs. ($1.66) a year ago
Reports Q2 revenue $23.2M vs. $15.32M a year ago.

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