CINAR Institutes Legal Proceedings Against Co-Founders and Former CFO.Business Editors MONTREAL--(BUSINESS WIRE)--Jan. 30, 2001 CINAR Corporation announces that CINAR and certain of its subsidiaries have instituted legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. before the Quebec Superior Court Quebec Superior Court is the highest trial Court in the Province of Quebec, Canada. It consists of 144 judges who are appointed by the federal government following the recommendation of the Premier of Quebec. , District of Montreal Of Montreal is an American indie pop band formed in Athens, Georgia, fronted by Kevin Barnes. It was among the second wave of groups to emerge from The Elephant 6 Recording Company. , against Ronald A. Weinberg, Micheline Charest Micheline Charest (1953 - April 14 2004) was a successful television producer and founder (and former co-chair) of the Cinar (now Cookie Jar Entertainment) television company. , certain companies related to them and Hasanain Panju (the "Defendants") claiming an amount of $28,620,469 being the net balance (after conversion into Canadian dollars) owing by the Defendants to CINAR or its subsidiaries in relation to various related party transactions. CINAR is also claiming an accounting of certain profits and other relief. CINAR Corporation is an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. CINAR's web site is www.cinar.com. This release may include information that could constitute forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (U.S.). Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. Actual results or conditions may differ from those anticipated by these and other forward-looking statements. Such forward-looking statements are subject to a number of known or unknown risks and uncertainties. |
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