Cinar Sued By HighReach
The former owners of Cinars subsidiary, HighReach Learning, Inc., have filed a lawsuit against the parent company to recover alleged losses related to a stock purchase agreement concluded with Cinar as part of the purchase price of HighReach in 1998. The complaint contains allegations that Cinar is liable for losses in stock due to the ongoing investigation into their alleged fraudulent actions. "These legal proceedings pertain to circumstances surrounding the stock purchase agreement negotiated between Cinar and the former owners of HighReach Learning in 1998.