Tech Co. Can't Unfreeze US Bank Accounts In Malware Case

Law360 (July 21, 2021, 8:19 PM EDT) -- A California federal judge has refused to unblock her hold on a mobile advertising company's assets in two U.S. bank accounts while an investor attempts in arbitration proceedings to recover a $13.9 million investment after the business was accused of computer fraud.

U.S. District Judge Lucy H. Koh on Tuesday denied Wisdomobile Group Ltd.'s motion to dissolve her preliminary injunction that enjoins it from disposing of or diminishing assets located in the United States as British Virgin Islands investor CW Baice Ltd. seeks to rescind a share purchase agreement or request indemnity in arbitration. Judge Koh's order maintains the freeze on...

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