VAN NUYS - Adult DVD rental and video-on-demand service WantedList, Inc. announced Thursday that it has filed for arbitration against Shahan Ohanessian and Xflix, LLC over the asset purchase agreement of Xflix.com and his consulting agreement.
Among other things, the lawsuit alleges that the goods and services provided under the agreements were not delivered and that there was intent to defraud WantedList.
It was reported during the development of the case that one significant observation focused on Ohanessian rights surrounding Xflix. Apparently he did not have the full rights because it was in litigation in Los Angeles Superior Court against his former partner and brother-in-law Ghevont Tersakian.
"A lot of different things will be argued about this case from both sides," Anh Tran co-founder of WantedList said. "The one thing we do know for sure is that he signed this deal indicating that this company was free and clear of lawsuits and then midway through the case we find out he was mired in a major lawsuit over the assets of the company. We would never have moved forward with this deal knowing what we know today."
Danny Ting, co-founder of WantedList said he had high hopes for both the relationship and the technology provided by Xflix, LLC.
"The assets and services failed us time and time again," he said. "That's why we had to move away from their platform and onto our own proprietary one."
With this action, WantedList is seeking relief from damages caused by entering a false business relationship with Ohanessian.
