CINAR to Vigorously Defend Itself Against BRB Group Legal Proceedings.Business Editors MONTREAL--(BUSINESS WIRE)--Aug. 11, 2000 CINAR Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CIF (1) (Common Intermediate Format) A standard video format used in videoconferencing. CIF formats are defined by their resolution, and standards both above and below the original resolution have been established. The original CIF is also known as Full CIF (FCIF). .A.)(TSE:CIF.B.) announced today that it will vigorously defend itself against legal proceedings taken in 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. on August 8, 2000 by two plaintiffs, owners of BRB Group, a film production and distribution business located in Spain. The amount claimed by the plaintiffs for alleged breach of contract related to an alleged transaction in January 1999, is approximately Cdn $78million. "CINAR believes that these charges are completely unfounded and will take all the necessary means to defend itself against them," said Mr. Barrie Usher, President and CEO of CINAR. CINAR Corporation (Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. : CIF.A, CIF.B) 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 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. Such forward-looking statements are subject to a number of known or unknown risks and uncertainties. |
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