Press Release Intertainment AG
Main trial starts in the Franchise lawsuit
Intertainment demands compensation for damages amounting to at least 100 million dollars from US film producer
Ismaning near Munich, 21 April 2004 - The main trial in the lawsuit relating to compensation for damages filed by media company Intertainment AG, Ismaning near Munich, against the American film producer Franchise Pictures and other parties commenced according to schedule on Tuesday. The proceedings, which also include the counterclaim by Franchise, are being heard before the Federal District Court in Santa Ana near Los Angeles. In the proceedings, Intertainment is demanding compensation for damages amounting to at least 100 million dollars from its former business partner on account of fraudulently inflated film budgets. Apart from Franchise Pictures, the defendants also include subsidiaries of the company and Elie Samaha, CEO of Franchise, in person.
Intertainment had already filed the claim at the end of December 2000. However, since then the opening of the main trial was postponed three times - the last time in August 2003 to April 2004.
Procedural facts were the primary focus of the first trial day. These included in particular selection of the ten jury members. In addition, Scott Edelman, the lawyer representing Intertainment, commenced his opening statement.
The hearing will continue today, Wednesday. Continuation of the opening statement by Edelman, the opening statement by the opposing side and the first witness testimonies are scheduled for today's hearing.
The current schedule provides for the trial lasting a total of eight weeks on account of breaks and days without trial. The judgment should be handed down at the latest on 11 June.
Contact:
Intertainment AG, Dr. Marietta Birner, Investor Relations, Osterfeldstrasse 84, D-85737 Ismaning, Germany
Tel.: + 49 (0)89 21699-0, Fax: + 49 (0)89 21699-11
Internet: www.intertainment.de, E-mail:
investor@intertainment.de