Ironridge Global IV, Ltd. Successfully Obtains $1 Million Judgment Against The Digital Development Group Corp.


Follow this company

Companies Mentioned

OTC:BB:DIDG
07/21/2014 [ACCESSWIRE]

Los Angeles, CA / ACCESSWIRE / July 21, 2014 / Ironridge Media Co., a division of Ironridge Global IV, Ltd., has obtained a final judgment in excess of $1 million against The Digital Development Group Corp. (OTCBB: DIDG), aka DigiDev, for breach of contract.

In the case entitled Ironridge Media Co., a division of Ironridge Global IV, Ltd. v. The Digital Development Group Corp., Case No. BS144048, the Superior Court of the State of California for the County of Los Angeles awarded Ironridge $850,000 in damages for DigiDev's uncured material breach of the Securities Purchase Agreement pursuant to which Ironridge funded DigiDev, plus $110,169 in legal fees, plus interest at 10% per annum from July 10, 2013 until the judgment is paid in full.

The Superior Court affirmed a final arbitration award previously issued in favor of Ironridge Global, in which a retired judge granted Ironridge the full amount it requested on its claim for breach of contract, rejected all of the counterclaims asserted by DigiDev, and granted Ironridge all of its legal fees, costs and expenses.

Click here to view a copy of the judgment (http://www.accesswire.com/uploads/IGIV_JUDGMENT04032014.pdf)

About Ironridge

Ironridge Media Co. is a division of Ironridge Global IV, Ltd., which is a subsidiary of Ironridge Global Partners, LLC, an institutional investor making direct equity investments in micro-cap public companies. Ironridge Global has completed over 60 transactions since 2011, ranging from under a quarter to $25 million each, for Nasdaq, NYSE MKT, OTCQB and Pink Sheets companies.  Ironridge Global's principals have handled several hundred billion dollars in public company financing transactions over more than two decades.  Their extensive industry experience includes life sciences, energy, natural resources, consumer products, technology, media and entertainment.  For more information about Ironridge Global Partners, please visit http://www.ironridgeglobal.com/.

 

Source: Ironridge Global IV, Ltd.

COMMENTS

Leave a comment...
 * 

Your Name
 *