DiStream Files Lawsuit Against Infinium Labs and Senior Executives.Business Editors/Legal Writers JACKSONVILLE, Fla.--(BUSINESS WIRE)--April 21, 2004 Digital Interactive Systems, Inc. ("DiStream"), and Royal O'Brien, its Chairman and Founder, yesterday filed suit against Infinium Labs, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:IFLB IFLB Islamic Front for the Liberation of Bahrain ) and its two founders in the Circuit Court of the Fourth Judicial Circuit in and for Duval County, Florida Duval County is a county located in the U.S. state of Florida. As of 2000, the population was 778,879. The U.S. Census Bureau 2005 estimate for the county is 826,436 [1]. Its county seat is Jacksonville, Florida6. . The complaint alleges material breaches of a series of agreements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Infinium's acquisition of DiStream's proprietary, confidential information Noun 1. confidential information - an indication of potential opportunity; "he got a tip on the stock market"; "a good lead for a job" steer, tip, wind, hint, lead , technology and know-how. The agreements negotiated between DiStream, Mr. O'Brien and Infinium authorized Infinium to utilize DiStream technology - including two modules of its DiStream Server, DiEMS (Enterprise Management System) and DiSMS (Services Management System) and its DiCRYPT, AES standard encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. engine used to protect content during distribution - to develop, launch and protect Infinium's gaming network. After the parties executed the agreements, Infinium trumpeted the arrangement, asserting in a November 4, 2003 news release that with DiStream's technology "Infinium has taken a big step toward its goal of offering consumers the largest selection of game software." DiStream and Mr. O'Brien further allege To state, recite, assert, or charge the existence of particular facts in a Pleading or an indictment; to make an allegation. allege v. that by promising them significant ownership interests in Infinium, the defendants induced them to provide Infinium with technological know-how essential to the planned 2004 launch of its gaming network. On the strength of this technological know-how and the substantial contribution of DiStream and Mr. O'Brien to Infinium, the lawsuit alleges, the defendants procured essential financing and began to execute on Infinium's business plan. In February, 2004, without warning, Infinium terminated its relationship with both DiStream and Mr. O'Brien. In clear violation of its agreements with DiStream and Mr. O'Brien, Infinium refused to tender to DiStream and Mr. O'Brien either the shares to which each was entitled for their efforts on Infinium's behalf, or promised cash consideration. DiStream also seeks injunctive relief injunctive relief n. a court-ordered act or prohibition against an act or condition which has been requested, and sometimes granted, in a petition to the court for an injunction. to prevent Infinium from employing any trade secrets, relating to their agreement, that Infinium received from DiStream for any purpose, including procuring financing or launching its gaming network. About DiStream: DiStream is an innovative technology company that develops radical digital content and delivery technologies for the media center of tomorrow, today. DiStream creates a new kind of advanced content delivery and digital video technologies. Technology that is market-driven and business-sensible. The result is a rich portfolio of patent-pending technologies and products that span the entire digital content distribution spectrum. |
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