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I can see that Canute is posting on this thread but as you all know I have him filtered and so, I never read his clap.
The claims against Alphonso (and LG) are long and multiply damning. If proven culpable then the duplicit Corporate behaviour here is nothing short of disgraceful and utterly contemptable.... It’s my view therefor, that the accused parties will not take this case to the wire and so, it will not come as a surprise to me to hear that the case against Alphonso/LG, has been settled out-of-court in Tremors favour. It will likely carry the usual perfunctory media muzzle to restrict disclosure and further Brand damage to the assocciated parties, of course.
Radium,
"If/when Tremor succeeds in obtaining damages, Alphonso’s and LG’s reputation (the Brand) could suffer detrimental damage within the adtech space where such news travels quickly. "
That's rubbish. Big brands have pulled ads from Youtube(Google) etc before following outrages but they always return. The fact is advertisers need big players like LG. LG are a huge CTV maker so advertisers will think about what brings in money for them not what Alphonso did...
Google recently announced record results, didn't they?
Advertisers pull ads in protest but always return:
"It is the second time within a year that Mars has pulled ads from the Google-owned platform, following last year’s revelation in The Times about ads appearing alongside videos that promote terrorism and exploit children. "
"Even though ad advertisers care about brand image, this does not appear to translate to robust brand safety precautions, according to Nick Welch, vice-president of sales and business development at ad tech company ADmantX."
https://www.campaignlive.co.uk/article/mars-youtube-ads-withdrawal-creates-opportunity-itv-online/1489623
On the other hand, trmr are potentially losing a huge chunk of CTV as LG are a huge CTV maker.
The forward guidance for 4Q should guide us as to what extent Tremor has managed to mitigated against Alphonso’s behaviour. Which, on the face of it, is breathtakingly shocking.
If/when Tremor succeeds in obtaining damages, Alphonso’s and LG’s reputation (the Brand) could suffer detrimental damage within the adtech space where such news travels quickly. The ‘immediate’ impact on Tremor may not be classifiable as ‘materially significant’ but accumulatively, the past, present, ongoing and future damage done to Tremor, assuming it can actually be quantified rather than subjective, may well be significant, in which case, if everything claimed by Tremor in these court docs is proven, then the quantum awarded to Tremor could be substantial and then add to that the alleged $11million owed to Tremor by Alphonso. The forward guidance for 4Q should guide us as to what extent Tremor has managed to mitigated against Alphonso’s behaviour.
When you read this document in its entirety you are left asking yourself the question, Corporate crook or what?
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=BsaQpJUlNePMmndR97_PLUS_8Fg==
RNS 19th Dec 2019….. Alphonso has been providing Tremor Video with television viewership data for the last four years and has agreed to a two-year extension. Tremor leverages the data collected by Alphonso, whose viewership data reach includes 15 million opted-in U.S. households. ….Not a lot.
RNS 26th October 2021…Tremor Signs Exclusive Global Smart TV Data Partnership with VIDAA. Smart TV base expected to grow from 20 million to c. 40 million, significantly extending Tremor's global reach.
The partnership enables Tremor's technology platform to gain exclusive access to VIDAA's automatic content recognition ('ACR') data, both in the US and internationally. Tremor will bring VIDAA's ACR data into its TV Intelligence solution starting May 1 2022, providing exclusive rights to the VIDAA ACR data in all global markets, and Tremor will activate in the US, Canada, UK, Germany, France, Italy, Spain, Portugal, Netherlands, Australia, and Japan.
Knowing what you know now about Alphonso which of the above TV data providers would you prefer.
What is the impact of all this in the intrim. Tremor gave its revenue guidance for 3Q along with the 2Q results. All we can do is wait.
88 Extract F. Alphonso’s Refusal to Repay Tremor…..
On February 23, 2021, Tremor sent Alphonso a letter setting forth the numerous breaches of contract Tremor was aware of at the time. The letter also itemized and requested prompt payment of the significant amounts that Alphonso owes to Tremor. In particular, Alphonso has not repaid any of the $6,500,000 that Tremor advanced or the $750,000 in associated fees under the Security Agreement, all of which became immediately due upon termination of the Agreement.
89. Alphonso also owes Tremor $1,875,000 in Fee Credits arising out of Tremor’s overpayments in 2019, as well as the $2,000,000 in fees that Tremor prepaid during the second half of 2020. 90. All in, Alphonso is required to remit $11,125,000 to Tremor in connection with the termination of the parties’ relationship. Alphonso, however, has refused to do so—illegally holding hostage over ten million dollars of Tremor’s own money.
Those links work if you copy and past into your browser.
Those links failed.... try these. If these don't work you can pick up the story on advm, if interested.
Https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=1poTEO0N2dfh0Pl4VvMOdA==
Https://iapps.courts.state.ny.us/nyscef/DocumentList?
docketId=j/MKa5jKQOiZ2rhRcKfwfw==&PageNum=1&narrow=
hTTps://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=m48jCelUG4Y7uxdSxS/0_PLUS_A==
hTTps://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=BsaQpJUlNePMmndR97_PLUS_8Fg==
Brought over from advfm. Alphonso case docs. Interesting that Tremor had to provide a loan for Alphonso when Alphonso got into financial difficulty. Hard to believe then that Alphonso was being peddled as the market leader in providing brands and agencies with verified TV audiences...Extract...In furtherance of this partnership and in light of their longstanding relationship, Tremor later advanced Alphonso $6.5 million in the form of a loan secured by all of Alphonso’s assets and more than $4 million in prepayments to help Alphonso when it experienced financial difficulties....Brings Alphonso into a totally different perspective. A two-bit Co, comes to mind. Success for Tremor here could result in a very substantial settlement for Tremor. Canute will have an apoplexy.
hTTps://iapps.courts.state.ny.us/nyscef/ViewDocument?
docIndex=BsaQpJUlNePMmndR97_PLUS_8Fg==hTTps://iapps.courts.state.ny.us/nyscef/ViewDocument?
docIndex=m48jCelUG4Y7uxdSxS/0_PLUS_A==
severnof9..In response to Digis question. I am a UK lawyer and having read the notice of discontinuance I think I can answer this question. Hi wheeze,I’m glad the documents are now on the bb,s for discussion? Re your...My question would be Alphonso don’t have a pot to p*ss in and any compensation would have to come from the deep pockets of LG,my question would be according to this document the last document posted at the NY Supreme Court both parties have agreed liability will not be knocking on LG,s door?....hopefully someone with more knowledge would better explain?
hTTps://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=m48jCelUG4Y7uxdSxS/0_PLUS_A==
The parties to the litigation were: Tremor Video, Inc. v. Alphonso, Inc. n/k/a LG ADS, LG Electronics inc, LG Electronics USA inc The notice of discontinuance only removed LG Electronics USA inc from liability. It is important to note that LG ADS & LG Electronics inc remain parties to the litigation n/k/a means now known as. I have not undertaken a credit reference check on either LG ADS & LG Electronics inc but I would bet that the lawyers have. I suspect they will be good for the damages if any are awarded. Given that the injunction was permitted in part I am pretty hopeful that liability will stick to Alphonso the real issue remains what will be the quantum. The affidavit states there is a significant loss to TRMR but I haven't seen any indication of what significant means but then I havent read the entirety of the court documents. I suspect this will not become evident until discovery takes place.