BEVERLY HILLS, Calif., Oct. 9, 2012 /PRNewswire/ -- On September 7, 2012, AFH Holding and Advisory, LLC ("AFH"), Griffin Ventures, LTD. and The Amir & Kathy Heshmatpour Family Foundation (collectively "the AFH Entities") commenced a lawsuit against Emmaus Life Sciences, Inc. (NASDAQ: EMMA) ("EMMA") by filing a Summons and Complaint against EMMA in the Superior Court of the State of Delaware In And For New Castle County. AFH has alleged causes of action for Declaratory Judgment, Breach of Contract and for Quantum Meruit against EMMA. Additionally, Griffin Ventures, Ltd. and The Amir & Kathy Heshmatpour Family Foundation have asserted claims for Declaratory Judgment and for Breach of Contract-as Third Party Beneficiaries against EMMA. The AFH Entities have sought a Declaratory Judgment against EMMA holding that it does not have the right to terminate their shares in EMMA, which are valued at $9,015,296.40. AFH also has asserted a claim for breach of contract against EMMA due to EMMA's alleged refusal to reimburse AFH for certain expenses it incurred in providing financial advisory services to Emmaus's predecessor in connection with it becoming a publicly traded company, to aid it in its efforts to obtain additional financing, and to provide it with a publicly-reporting, fully-audited special purpose vehicle. The Complaint is publicly available from the Superior Court of the State of Delaware and is available upon request by emailing firstname.lastname@example.org.
About AFH HOLDING AND ADVISORY, LLC
AFH Holding & Advisory, LLC is a single member family office and advisory firm offering business solutions to help domestic and international clients grow. At AFH, we focus on capital formation and corporate advisory services and can advise your company on the best strategies to access capital and, if appropriate, expedite its transition from a private company into a publicly traded company. We are also a licensed California lender, focused on lending practice, which allows companies the ability to access debt financing they need to help their business prosper.
AFH's seasoned team of financial and business experts, led by Amir Heshmatpour, leverages decades of professional success to deliver sound guidance and proven practices that enable clients to achieve their specific development and financial goals.
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