ENDI Corp (ENDI)

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This would be nice to have in the past.. I think SYTE is going to win it... We'll see.

Litigation



United Systems Access, Inc., et al. v. SiteStar Corporation, Civil Action, Docket No. CV-13-161, (York County Superior Court). This is a breach of contract claim, whereby Plaintiff has alleged that SiteStar has failed to pay the amounts owed on a Promissory Note. SiteStar has filed a counterclaim for damages associated with Plaintiff’s failure to turnover certain customer lists. Plaintiff seeks monetary damages in the amount of $900,615. Litigation is currently in the discovery phase of litigation. The parties have exchanged documents but have not yet taken depositions. SiteStar is currently contesting the Litigation. Mediation in the matter is scheduled for April 25, 2014, as required by the Maine Rules of Civil Procedure. The estimate of the upper limit of a potential loss is $900,615 which has been accrued. Management is vigorously defending this claim.