BAY HARBOR ISLANDS, FL / ACCESSWIRE / September 26, 2022 / American Films, Inc. (OTC PINK:AMFL) ("AFI" or the "Company") filed a lawsuit to recover in excess of $15 million against Rightscorp, Inc. and its CEO and Chairman Cecil B. Kyte ("Kyte"). The lawsuit alleges Rightscorp and Kyte lured AFI into a transaction to acquire Rightscorp, and then Rightscorp and Kyte used confidential information from the deal to reap a profit. AFI has retained Florida-based Shapiro, Blasi, Wasserman & Hermann, P.A. in connection with this matter (Case Number 2021-CA-000817, filed in the Circuit Court of the 20th Judicial Circuit in and for Collier County, Florida).
Furthermore, as a shareholder of Rightscorp, Inc. common stock, AFI is currently reviewing the possibility of initiating a shareholder rights action against Rightscorp, Inc. Any shareholder rights action would be brought for the benefit of all Rightscorp shareholders and the corporation, Rightscorp, Inc., itself. AFI has retained Nevada-based McDonald Carano LLP in connection with analyzing this matter.
About American Films
American Films owns, develops, and acquires intellectual property, which it seeks to monetize at higher rates through proprietary technology, rights enforcement, and asset digitization. Its unique proprietary processes and technology include FACTERRA, a web-based evidence gathering program that identifies instances of copyright infringement and allows American Films and others to enforce intellectual property rights. American Films supports the creative process and protects intellectual property in the film and music industries. For more information, visit https://americanfilms.us.
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SOURCE: American Films, Inc.