On February 1, 2019, Robert W. Seiden, Esq. was appointed by the Honorable Victor Marrero of the U.S. District Court Southern District of New York as the temporary Receiver over Link Motion Inc. (NYSE: LKM) during the pendency of the case entitled Wayne Baliga v. Link Motion Inc. et al., case number 1:18-cv-11642. In addition to appointing Mr. Seiden as the Receiver over Link Motion Inc. (“LKM”), Judge Marrero also granted a preliminary injunction restraining Link Motion from transferring any assets out of the Company without the Receiver’s approval.
The lawsuit underlying the Receivership stems from a series of alleged misconduct by Link Motion’s Chairman, Dr. Vincent Shi. The lawsuit was brought by holders of ADR’s in LKM, including in the U.S. and China, after information of the alleged wrongdoing was brought to light by former U.S. employee Matt Mathison. LKMForward, a significant group of shareholders, hired The Seiden Law as its counsel to represent its case and to assist all shareholders in the ultimate recovery of Company assets.
Seiden has vast experience in international asset recovery, particularly in China, and has been appointed Receiver over 20 China-based U.S.-listed companies. If you should have information that may be helpful to the Receivership, please contact the Seiden Law directly at: 646-766-1703 or via email to Dgold@seidenlegal.com.