GIBRALTAR / ACCESSWIRE / April 19, 2022 / The Gibraltar-Based firm, ICICB Ltd., states that it will sue former video-game giant, Atari, after they announced the termination of all licensing agreements with ICICB. The investment firm declared that legal action would be taken against Atari after the termination arose without any form of strategic notice prior to the announcement.
On April 18th 2022, Atari abruptly terminated the joint-venture agreement with ICICB with intentions to create, distribute and solely manage a new proprietary token focused on gaming, community, and utility. This also came after the video-game firm announced its withdrawal from the Atari token (ATRI) partnership with ICICB Ltd. ICICB declared that the video-game company influenced the move towards filing a lawsuit against them following several unforeseen breaches in the joint-venture contract between the two.
ICICB and Atari had jointly created Atari Chain, a subsidiary cryptocurrency company, as well as mushrooming the launch for Atari Token (ATRI) to be utilized in video games, with an emphasis of utility within their own gaming ecosystem. The lawsuit states that the alleged Atari infringed the agreement rights by illegal use of tokens, causing significant damages and irreversible impairment to the company's brand image and future projects.
Commenting on the recent events of violation, the investment firm has stated "ICICB, with its rich alliances and brand recognition, has collaborated with the renowned gaming company to manage Atari Token for the gaming community. The disrespectful act taken by Atari is unacceptable in all means of the agreement."
Despite the ongoing dispute, ICICB Ltd. and its subsidiaries assert that they will continue to support Atari Token (ATRI) in its upcoming endeavors as the firm is tenacious in its aim to make the project a success amongst its loyal fans.
ICICB is an investment holding company specialized in financial services and investment offerings. Emerging as one of the fastest growing multinational investment companies, they are based in Gibraltar. The group serves a variety of industries including digital banking, consulting, medical care and commercial real estate. Over the past few years, ICICB's mission has been the development and advancement of digital technology, integrated with everyday life to increase efficiency and sustainability.
Visit www.icicb.com for more information.
View source version on accesswire.com: