Digital Brand Media and Marketing Group Inc (DBMM)

[Stock_Barber]

Have they previously disclosed this?

The Company is involved in a litigation, Asher Enterprises, Inc. v. Digital Brand Media & Marketing Group, Inc. and Linda Perry, Index No. 600717/2014, in the Supreme Court of the State of New York, sitting in the County of Nassau. The Plaintiff alleges $337,500 in damages based on breach of contract allegations arising from the Company’s untimely periodic filings in December 2013. On September 18, 2014, the Court declined to grant the plaintiff’s application for default judgment. The cross-motion for the Company was granted and the lender was directed to file a verified answer in the form submitted within 20 days. The Company plans on vigorously defending the litigation.