Stockholm, 2012-02-13 06:55 CET (GLOBE NEWSWIRE) --
The legal action by Stan Lee Media, Inc. (“SLMI”) questioning Paradox Entertainment’s rightful acquisition of the Conan property has been dismissed as unfounded by the United States District Court of the Central District of Los Angeles. SLMI had alleged that a trial should be held to reconsider the bankruptcy court order from 2002 on which Paradox relied when acquiring the Conan property, but the Court found no reason to hold such a trial.
The Court's decision can be appealed to a higher Federal Court, but only on the grounds that the lower Court's recent dismissal was flawed by a lack of due process or other procedural misassessments made by the lower Court. Although it cannot be ruled out that SLMI will appeal or ask the lower Court for a reconsideration based on new allegations, Paradox is convinced that Paradox would prevail in either case.
Paradox Entertainment was represented in this matter by Sacha Emanuel, based in Century City, California.
About Paradox Entertainment
Paradox Entertainment manages and develops its rights library by generating revenue from all forms of entertainment, including motion picture, television, gaming, publishing and toy industries. The Company’s library consists of such well-known brands as Conan the Barbarian, Kull of Atlantis, Solomon Kane, Mutant Chronicles, and the works of Robert E. Howard. Paradox Entertainment also represents third-party property owners expanding their IP into a variety of licensing categories. In addition, the company produces, co-produces and co-finances motion pictures aimed at the global market. The business is mainly carried out by Paradox Entertainment Inc., based in Los Angeles, California, USA. The shares of parent company Paradox Entertainment AB (PDXE, SE0000598054) are quoted on NASDAQ OMX, in the First North Premier segment. Erik Penser Bankaktiebolag acts as Certified Adviser. Read more about Paradox Entertainment on http://www.paradoxent.com.
Fredrik Malmberg
President & CEO
Tel: +1 (323) 655-1700, Mob: +1 (310) 663-3214
E-mail: fmalmberg@paradoxent.com
Joakim Zetterberg
Director of Publishing / Investor Relations
Tel: +1 (323) 655-1708, Mob: +1 (310) 623-2918
E-mail: jzetterberg@paradoxent.com