TV Studio Seeks $4M Over Botched Exxon Land Deal

Law360, New York (June 18, 2012, 8:07 PM EDT) -- Television production company DMG Studio Holdings LLC sued North Bay South Corp. and its affiliates in Connecticut federal court Monday, claiming they breached an agreement to purchase about 19 acres of land from Exxon Mobil Corp. while undergoing a probe by the U.S. Securities and Exchange Commission.

North Bay and its affiliates Michyo Advisors Inc. and Tricon Development Inc. have failed to follow through on the promise of $4 million in financing to help DMG purchase the land and develop several media and production studios, the...
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