China’s KXD Sues Ex-Director Fu in Singapore for $242 Million
KXD Digital Entertainment Ltd. (KXD), a China-based digital video products supplier whose shares are suspended in Singapore, said it’s suing former director Liu Fusheng in the city for $242 million citing breach of duties.
KXD is also seeking an inquiry and an account of the company’s profits from Liu, according to a statement to the Singapore exchange today. Liu was a director at the Shenzhen- based company from February 2003 to September 2010.
The company is claiming $211 million, 197.4 million yuan ($31 million) and S$12,977 ($10,560) from Liu, it said.
Two calls made to the phone number listed on the company website reached a recording that said the number wasn’t in use.
Shares of KXD have been suspended since May 2010.
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