LONDON, Sept. 28, 2018 (GLOBE NEWSWIRE) — One Horizon Group (NASDAQ: OHGI) is pleased to report that the Company and Zhanming Wu have reached a tentative agreement, which will resolve all of the issues raised in the two actions that Mr. Wu commenced earlier this year in Delaware against the Company and its Directors.
The parties to the litigation have come to terms after several weeks of negotiations and the exchange of proposed settlement documentation. The Company, its Board of Directors and Mr. Wu have directed their respective counsel to finalize the necessary documents, which they look forward to executing early next week.
“Sometimes in business as in life there are misunderstandings that must be addressed and resolved,” said Mark White, Founder and CEO of One Horizon Group. “Always, communication is key and we are pleased that we are putting our differences with our shareholder, Mr. Wu, behind us and we appreciate Mr. Wu and his counsel working with us to diligently resolve these matters. With the litigation behind us, we will be able to turn our complete attention to further growing our business and delivering value to our shareholders, including Mr. Wu.”