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Gizmondo Settles Jordan Lawsuit, Raises New Capital
Categories: Misc. Contract Cases • Settlements • Struggling Firms
Gizmondo has settled its sponsorship agreement lawsuit with Jordan Grand Prix in an out of court mediation by the payment of $1,500,000 in cash and the issuance of 30,000 shares of the Company’s restricted common stock. Gizmondo had contracted with Jordan to feature Gizmondo advertisements on the side of Formula 1 race cars.
Source: Gamasutra
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- Gizmondo May Hand over Smart Adds Inc. to Repay $21m Debt (January 16, 2006)
- Gizmondo Settles Jordan Lawsuit, Raises New Capital (September 7, 2005)
- Handheld Games Sues Tiger Telematics, Makers of the Gizmondo Portable Gaming System (June 8, 2005)
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