Investors Drop Request Seeking Receiver For 3D TV Tech Cos.
Law360 (November 8, 2018, 7:22 PM EST) -- Shareholders in a pair of 3D television technology development companies dropped their petition for the Delaware Chancery Court to appoint a receiver to manage the companies after their leaders allegedly diverted investment funds for their own personal use.
Last week, shareholders Bernard Spain and Paul Kelly filed the petition claiming that the leaders of Mediatainment Inc. and Stream TV Networks Inc. failed in their mission to bring glasses-free 3D television technology to fruition for in-home viewing because company executives have been funneling investor contributions toward the funding of their "lavish lifestyles."
On Monday, the shareholders' attorney Carl D. Neff of Fox...
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