MyTona LLC has Sent Formal Response and Counterclaim Towards G5 Entertainment

As previously announced, G5's action arises from disputes between the parties concerning a license agreement between the parties entered into on May 2, 2012, with regard to the game "The Secret Society."  The full text of the answer and cross-complaint, as well as G5's original complaint, are available through the Clerk's Office of the Orange County Superior Court, Case No. 30-2017-00896250-CU-BC-CJC.  In the suit, G5 contends that MyTona has failed to perform certain obligations under the May 2, 2012 license agreement with regard to "The Secret Society", and has improperly refused to extend the license agreement beyond its initial 5-year term. G5 seeks substantial damages for past and future lost profits, declaratory relief and other remedies against MyTona for these violations.  G5's action also seeks to enforce rights claimed by G5 in relation to MyTona's game "Seeker's Notes", in which G5 claims a contractual right under the license agreement to participate financially, and seeks substantial damages, declaratory relief and other remedies against MyTona.  

MyTona, in its answer and cross-complaint, generally denies G5's claims and asserts cross-claims for breach of contract, breach of the implied warranty of good faith and fair dealing, declaratory relief, and unfair competition.  MyTona contends that G5 has breached its relationship and affiliation with MyTona in its efforts to promote other games within G5's portfolio, misappropriated game concepts and source code, delayed royalty reports, engaged in "rude and threatening" communications, and committed other acts which MyTona contends justify its refusal to extend the agreement between the parties. MyTona also seeks damages in an unspecified sum, an injunction and other equitable relief, including a ruling that MyTona need not renew the agreement, from G5 based upon these alleged violations.

Vlad Suglobov, G5's CEO, stated that "I can only repeat what I said previously that our actions against MyTona are both necessary and justified and that we look forward to having these disputes decided through the court process".

More information about the Company can be found on www.g5e.se/corporate.

For further information, please contact:

Vlad Suglobov, CEO, [email protected]
Stefan Wikstrand, CFO, 46-76-00-11-115

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http://news.cision.com/g5-entertainment-ab/r/mytona-llc-has-sent-formal-response-and-counterclaim-towards-g5-entertainment,c2221969

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