NY Court Ruling Opens Path For Forbes to Resume Control Of The Local Editions in Mexico, Colombia, Peru, Chile, Central America and the Dominican Republic
01 May 2024 - 1:25AM
Business Wire
A United States District Judge for the District of New York
ordered Media Business Generators (MBG) to withdraw an improperly
obtained order from a Mexico City Judge that prohibited Forbes from
moving forward with new partners in Mexico, Colombia, Peru, Chile,
Central America and the Dominican Republic including Forbes En
EspaƱol.
The Honorable Jessica Clarke, Judge of the United States
District Court for the Southern District of New York, granted the
injunction to Forbes, which announced in January 2024 that it has
not renewed the license agreement in 2024 with MBG for the online
and print editions that it previously operated.
In an attempt to continue operating the licensee business after
the expiration of the license agreement, MBG obtained an injunction
in Mexico City without the knowledge or involvement of Forbes. This
measure was considered vexatious by Clarke. Being improper, the
Judge ordered MBG to withdraw the measure in Mexico.
"We are pleased with the decision of the Honorable Jessica
Clarke in favor of Forbes. Now that the injunction in Mexico must
be lifted, Forbes will be able to fully exercise its rights under
the agreement and in accordance with the laws of the State of New
York," said Wendi Opper Uzar, an attorney on behalf of Forbes.
"We look forward to confirming the termination of the license
agreement with Media Business Generators, which officially expired
at the end of 2023 and was terminated for cause on February 14,
2024, for the editions in Mexico, Colombia, Peru, Chile, Central
America and the Dominican Republic," Uzar added.
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version on businesswire.com: https://www.businesswire.com/news/home/20240430217190/en/
Laura Brusca lbrusca@forbes.com