StreamingMedia.com Industry Announcements
View Press Releases --- Add Your Press Release
StreamingMedia.com provides this section as a service to its readers and customers.
Please read our new press release policy, effective February 1, 2022.
Press releases are subject to approval by the editorial staff of StreamingMedia.com and may be edited or altered for length and clarity, or to remove unsubstantiated and unverifiable claims.
All content presented within the press release section is that of the submitter. StreamingMedia.com does not necessarily endorse such content and bears no responsibility or liability for its accuracy.
California based Hollywood Tools, LLC has Sued Colorado-based Levels Beyond, Inc. for Misappropriating Secret Technology, and Luring Away a Key Software Employee
North Hollywood, Ca(07 Apr 2013)
Southern California based Hollywood Tools, LLC, maker of software tools for maximizing the value of audio-video assets, including storing, automatically transcribing and automatically generating keyword search and access data, has sued Colorado-based Levels Beyond,Inc.
According to the Complaint filed in Los Angeles County Superior Court (Case Number BC504338), Levels Beyond entered into a confidentiality agreement in order to explore a deal to use Hollywood Tools' innovative software capabilities in its own software suite. Once gaining access to Hollywood Tools' trade secret technology, the complaint alleges, Levels began implementing a plan to misappropriate the secret technology, and lured away a key software employee to facilitate its efforts.
Hollywood Tools' CEO Luis Pelayo stated, "It's unfortunate that we have to seek the court's involvement to protect our property and rights from what we consider to be actions that are not only wrongful, but also dishonest and grossly lacking in integrity."
Both companies will be exhibiting at the @NABshow in Las Vegas April 8-11.
A Copy of Hollywood Tools' complaint can be found at www.l2digital.com/htcomp.pdf