Artfest International, Inc (fka ARTS)

[Kool Aid Man]

More lawsuits?

Are we, therefore, to believe that these two single cases represent the sum total of ALL legal proceedings --since the end of the 4th quarter 2010 ..AS WELL AS any others currently actively underway-- involving this company and it's CEO? If so personally find that very, VERY hard to believe.

ITEM 3. LEGAL PROCEEDINGS

On July 23, 2010, Mr. Steven Rash, filed a lawsuit in the State of Texas against Artfest International seeking monies owed for services rendered while employed at Artfest from 2008 to 2009. As of the date of this report, Artfest has retained counsel and is working with them to investigate the matter and develop a plan to remedy the issue.

On August 6, 2010, Parker Midway, LP, Artfest’s former landlord (“Parker”), filed suit in the District Court of Dallas County, Texas against Artfest for its alleged breach of its Lease Contract.

On February 24 th a mutual settlement was agreed upon, between Parker Midway and Artfest. The suit against Mr. Vakser was dismissed and the company agreed to pay $ 150,000 dollars to settle the case.
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