Justice Denied Destiny Relief in Respect of Three (3) of the Five (5) Grounds
TORONTO, CANADA – YANGAROO Inc.(TSX-V: YOO, OTC: YOOIF), the industry’s leading secure digital mediadistribution company, is pleased to announce that its $25 millioncounterclaim against Destiny Software Productions, Inc. and DestinyMedia Technologies, Inc. (“Destiny”) in respect of its claim fordefamation, breaches of the Trade-marks Act and Competition Act havebeen allowed to proceed by the Ontario Superior Court of Justice.
Onor about June 4, 2010, Destiny et al. brought a motion for summaryjudgment to have YANGAROO et al.’s counterclaim struck in its entirety.On January 20, 2011, Mr. Justice Kershman denied Destiny et al.’s reliefin respect of three (3) of the five (5) grounds and decided that thereshould be no order as to costs.
With respect to the claims forbreaches of the Trade-marks and Competition Acts, the Court determinedthat a trial was necessary as some of the statements made by Destinycould arguably be construed as misleading.
With respect to theclaim for defamation, the Court further determined that a trial wasnecessary as again, some of the statements made by Destiny may bedefamatory resulting in the burden being placed on Destiny to defendthose statements.
YANGAROO CEO, Scott Wambolt has stated he ispleased that the Court has ruled in our favor and allowed YANGAROO’scounterclaim to proceed and notes that “ We believe it is important thatinvestors have a full open and honest disclosure of the facts on thismatter, and we will work to keep shareholders fully aware of all thedevelopments as they occur”. Interested parties can refer to theattached link for a full disclosure of the facts.
https://www.yangaroo.com/LegalDocuments.aspx
About YANGAROO
YANGAROO'spatented Digital Media Distribution System (DMDS) is a leading secureB2B digital delivery solution for the music and advertising industries.DMDS is a Web-based delivery system that pioneers secure digital filedistribution by incorporating biometrics, high-value encryption andwatermarking. DMDS replaces the physical distribution of audio and videocontent for music, music videos, and advertising to television, radio,media, retailers, award shows and other authorized recipients with moreaccountable, effective, and far less costly digital delivery ofbroadcast quality media via the Internet.
Named one of Canada’sTop 100 Tech Companies for 2009 by Canadian Business, YANGAROO hasoffices in Toronto, New York, Los Angeles, and London, U.K. YANGAROOtrades on the TSX Venture Exchange (TSX-V) under the symbol YOO and inthe U.S. under OTCBB:YOOIF. For further information, please contactScott Wambolt at 416-534-0607 ext 111 or visit www.yangaroo.com.
Contacts for YANGAROO:
Gina Preoteasa
Trylon SMR
212 905-6060
gina@trylonsmr.com
The statements contained in this releasethat are not purely historical are forward-looking statements and aresubject to risks and uncertainties that could cause such statements todiffer materially from actual future events or results. Suchforward-looking statements are made pursuant to the safe harborprovisions of the Private Securities Litigation Reform Act of 1995. TheTSX Venture Exchange does not accept responsibility for the adequacy oraccuracy of this release.