Tuesday, December 20, 2011

Artificial Life (ALIF.PK) Sues KPMG Hong Kong for Damage Exceeding US$ 100 million

Press Release

Shareholders Prepare Additional Class-Action Lawsuit Against KPMG in the USA

The Company currently estimates and assesses the damage and potential damage caused to the Company by KPMG Hong Kong to exceed US$ 100 million due to -- amongst other factors -- the loss of substantial market value of its equity, the forced delisting of its shares from the US OTC market and the German Entry Standard Segment, its loss of major cash funding options, its loss of investment opportunities, its loss of revenues and profits and its general loss of business opportunities and general reputation damage caused directly and/or indirectly by KPMG Hong Kong's malpractice, breach of contract and breach of duty of care

1 comment: