Last checked at 28 May 2010 07:00
CSS Stellar plc
("CSS Stellar" or the "Company")
Litigation claim
In 2009, a lawsuit was brought against, inter alia, Christopher Lencheski in the Supreme Court of the State of New York by 600 Management LLC and 600 Management Holdings LLC ("600 Management"), claiming, among other causes of action, breach of contract, breach of fiduciary duty and misappropriation of company assets, proprietary information and goodwill. The complaint was recently amended to include claims of fraudulent inducement into contract.
Mr Lencheski has recently filed counterclaims against Julian Jakobi and John Webber, who are among the investors in 600 Management, and against CSS Stellar in the aforementioned lawsuit.
CSS Stellar was not a party to any of the agreements underlying the claims and counterclaims in the civil action and had no ownership interest in any of the parties. CSS Stellar, Mr Jakobi and Mr Webber firmly believe these counterclaims to be totally without merit. Upon advice of counsel, these parties will not comment on this ongoing litigation and will allow the court to decide this matter.
A further announcement will be made in due course.
For further information please contact:
| Julian Jakobi | CSS Stellar plc | 020 7332 2002 |
| Luke Cairns / Avi Robinson | Astaire Securities plc | 020 7448 4400 |