Inner City Wants Shareholder Suit Over IP Sale Dismissed

Law360, New York (September 20, 2012, 7:23 PM EDT) -- Inner City Broadcasting Corp. urged a New York state judge Thursday to toss a litigious shareholder's complaints over Inner City's bankrupt radio subsidiary's plans to sell some of its trademarks and other intellectual property, calling the allegations hard to follow.

The shareholder, Hugh Wyatt, has alleged that Inner City Broadcasting is trying to use the bankruptcy of its subsidiary Inner City Media Corp. to give away the parent's valuable intellectual property, including the call letters to its WBLS radio station, as Inner City Media tries to...
To view the full article, register now.