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China’s KXD Sues Ex-Director Fu in Singapore for $242 Million

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July 12 (Bloomberg) -- KXD Digital Entertainment Ltd., 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.

To contact the reporter on this story: Andrea Tan in Singapore at atan17@bloomberg.net

To contact the editor responsible for this story: Douglas Wong at dwong19@bloomberg.net

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