TMMI Files 5 Million Dollar Claim to Protect Its Shareholders and Property Rights
TMMI, a leader in high quality video, has filed a 5 million dollar claim for causes of action against 'Dimension' a company led by a former TMMI shareholder.
TMM, Inc. (OTCQX:TMMI)
SURFSIDE BEACH, SOUTH CAROLINA, UNITED STATES, June 9, 2021 /EINPresswire.com/ -- Total Multimedia or TMM, Inc. ("TMMI" or the "Company") (OTC PNK: TMMI). Web site: http://www.tmmi.us
TMMI has filed a $5,000,000 claim in Nevada State Court for causes of action against Dimension, Inc., a company led by a former TMMI shareholder, for wrongful conversion of certain of TMMI's intellectual property rights and interference. The TMMI claim seeks a minimum of $5 million dollars in damages against Dimension for using privileged information to attempt to usurp TMMI's shareholder rights and interfere with the Company's corporate opportunities, among other causes of action.
From the legal claim filed in Nevada State Court:
"TMMI alleges that Dimension directors, agents, and/or predecessors, who were also TMMI shareholders, surreptitiously obtained TMMI's inside information and used that information to usurp TMMI's corporate opportunity and the opportunity of all of the other TMMI shareholders. Dimension converted TMMI's property and rights to Dimension's property, and has attempted to develop and market the same, tortiously interfered with TMMI's potential business relationships, publicly defamed TMMI, and caused TMMI damages over $5,000,000."
TMMI, a leader in high quality video, was the first in the world to produce software only video in 1991 that could be played from a CD ROM, called "TMM' Soft Video". The Company was then led by the visionary Phillip Taylor Kramer. Under his creative leadership, TMMI went on to develop the first ever high-quality fractal video technology through its long and cooperative relationship with fractal pioneer, Iterated Systems, Inc. ("ISI"). TMMI has moved forward to develop its own TRUDEF™ Video Player based on Microsoft's Universal Windows Platform ("UWP") as the video player for its future TRUDEF™ Video Streaming Service, currently in lab testing.
TMMI's $5 million dollar claim follows its previously litigated dispute with Dimension concerning a license specifically designed for the IBM PVS main frame super-computer, which TMMI had developed with Iterated Systems in the early 1990's.
TMMI now seeks damages for Dimension's wrongful conversion and the public disinformation that TMMI has sustained. The suit is filed to protect the Company's shareholders from encroachment on its technology rights.
For more information go to http://www.tmmi.us or call TMMI information at 1-800-806-2148.
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