Argo Digital Unit Wants Investor Fraud Suit Sent To Fla.

Law360, New York (December 21, 2012, 5:57 PM ET) -- A subsidiary of defunct Florida marketing technology company Argo Digital Solutions Inc. argued Friday that a $5 million shareholder derivative suit, which alleges that executives siphoned money away from the business, is not only meritless but also doesn't belong in New York where it was filed.

The subsidiary, rVue Holdings Inc., said that the alleged fraudulent conveyance at the heart of the case — when Argo executives allegedly transferred company assets to rVue, obtained fresh capital and left original Argo investors with worthless positions, while sending...
To view the full article, register now.