Bergeson, LLP Clients Win $60 Million Seizure Order Against Publicly Traded Company

The New York State Supreme Court has entered a written order requiring VisionChina Media, Inc. and its subsidiary, Vision Best Ltd., to transfer $60 million into New York State by August 21, 2012 where the money will be held in the custody of the New York City’s Sheriff’s office or deposited into an escrow account controlled by the Sheriff. The Court order is the latest in a series of legal victories for Bergeson LLP clients Gobi Partners and Oak Investment Partners in their legal campaign to ensure that VisionChina and its subsidiary comply with their contractual obligation to pay for their acquisition of Digital Media Group (DMG).