Pope Invest. v. Benda Pharma.

Summary

Hearing on motion for injunction.

Via SEC 8-K reports: "On December 30, 2009, we were served with a Summons and Complaint filed by Pope Investments, LLC (“Pope”) in the Court of Chancery of the State of Delaware (the “Court”) against the Company and our officers and directors. Pope filed the Summons and Complaint as a judgment creditor and as a shareholder of the Company. Pope alleges that the assets and profits of our subsidiary company have been wrongfully diverted by our officers and directors and requests the appointment of a receiver to liquidate and wind down the business affairs of the Company. In connection with the filing of the Summons and Complaint, Pope has also filed a motion for a Preliminary Injunction Motion seeking to enjoin the Company and our officers and directors from taking any further actions to divert the corporate assets and profits of our subsidiary company and for expedited discovery proceedings. Pope further requests the imposition of a constructive trust, an accounting, damages for an alleged breach of fiduciary duty by the Company’s officers and directors, and attorney fees."

View a free video clip from the case:
David Dorey argues on behalf of the defendant -- Clip 1

Read more: http://www.faqs.org/sec-filings/100112/Benda-Pharmaceutical-Inc_8-K/#ixzz0hhze9730