LOS ANGELES, CA--(Marketwire -03/01/12)- Writers Group Film Corp. (OTCQB: WRIT.PK - News) (Pinksheets: WRIT.PK - News) and its wholly-owned subsidiary Front Row Networks, Inc., a Los Angeles-based 3D concert production and distribution company, announced today that the lawsuit brought by Plaintiff George Sharp has been settled and dismissed. Although the terms of the settlement are confidential, the matter was amicably resolved, with no culpability found on behalf of Writers Group Film Corp., Front Row Networks, Inc. or their Officers and Directors.
"We are pleased to have this lawsuit behind us so that we can spend our energies focusing on our Company's business opportunities," said John Diaz, Chairman & CEO of Writers Group Film Corp.
Front Row Networks is a live concert production and distribution company which produces live concerts in 3D for initial digital broadcast into movie theaters in North America. Following their theatrical run, the films are then licensed to US and international broadcasters, pay channels, PPV markets, DVD and Blu-ray distributors, and sold on the internet as downloads.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements and as such, speak only as of the date made. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in the Company's latest 10-Q filed February 14, 2012.