Partner Slaps VeriFone With $250M Suit Over In-Taxi Ads

Law360, New York (December 17, 2012, 9:03 PM EST) -- Creative Mobile Technologies LLC, an in-taxi media technology company, filed a $250 million suit against its advertising partner VeriFone Systems Inc. on Monday in New York for allegedly breaching an agreement to share revenues from the passenger information monitors installed in New York City taxicabs.

In a complaint filed in New York state court, CMT accused VeriFone of "wrongful, malicious, tortious and contractual breaches" of the agreement for refusing to supply data needed to calculate the amounts owed under the revenue-sharing provisions of the deal and...
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