http://www.newsweb.no/newsweb/search.do?messageId=436020
"NORWEGIAN COURT INJUNCTION RULING APPEALED BY GUNNAR RYAN WIIK
Tekst
Reference is made to the stock exchange release issued by WR Entertainment ASA (âWR ASAâ)
on July 7, 2017, regarding Oslo City Court granting a preliminary injunction against Gunnar
Ryan Wiik. According to the ruling, Wiik may not transfer, sell, pledge or otherwise
dispose of 18,774,525 shares of WR ASA, which are held in his name, until a legally binding
outcome is reached in the California fraud lawsuit filed by WR ASAâs wholly-owned U.S.
subsidiary WR Films Entertainment Group, Inc. (âWR Inc.â) against Wiik, whereby Wiik is
obliged to return a stockholding of almost 19 million shares that the company alleges he
fraudulently transferred to himself from WR Inc. Further, Wiik may not exercise any
shareholder rights related to these shares.
Gunnar Ryan Wiik challenged this court order granted on June 29, 2017, and requested an
oral hearing. During a two-day oral hearing on August 24 and 25, 2017, the Oslo City Court
heard evidence from the companyâs current CEO and Chairman, several WR Inc. employees,
co-founders and WR ASA shareholders. Wiik also presented evidence from himself and others,
including former Chairman James Cardwell. On September 5, 2017, the Norwegian courtâs
verdict rejected Wiikâs arguments, finding his explanation as to how he acquired the
18,774,525 shares unconvincing and lacking. In the courtâs opinion, all documents and
evidence supported WR Inc.'s claim that the shares were meant to belong to WR Inc.,
not Wiik, and that those documents corresponded with the testimony of the companyâs
witnesses. As a result, the Norwegian Court not only upheld the injunction freezing the
shares, but also ordered that Wiik pay WR Inc.âs attorneysâ fees and other costs totaling
NOK 549 801. The Oslo City Court ruling from September 5, 2017 can be found on the
company website: http://widerelease.com/company/reports-presentations
"