The Appellate Division of the New York State Supreme Court has granted partial summary judgment in favor of Gobi Partners and Oak Investment Partners in their breach of contract claims against VisionChina Media Inc. (VISN) and its subsidiary.
In the same ruling, the appellate court affirmed the dismissal of VisionChina's claims of fraud and reversed the lower court's grant of a motion to attach $60 million in assets.
With this grant of partial summary judgment, Gobi and Oak have prevailed on most of the claims in their lawsuit against VisionChina relating to VisionChina's acquisition of a promising digital advertising company called Digital Media Group or DMG, previously owned by Gobi and Oak. Gobi and Oak plan to take all measures to enforce over US$108 million in contractual obligation and damages against VisionChina.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.