Litigation Announcement
Phison Electronics Corporation (“COMPANY”) announced today that the COMPANY has filed litigation in Sao Paulo court in Brazil against U-TECH DO BRASIL INDÚSTRIA, IMPORTAÇÃO, EXPORTAÇÃO E DISTRIBUIÇÃO LTDA. (“U-TECH”) and its legal representative and guarantor Mr. Daniel Modelis (“Mr. Modelis”), claiming that U-TECH together with Mr. Modelis return overdue payment and reimburse other remedies to the COMPANY.
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