Diversinet receives notice from AllOne to terminate license agreement

By Brian Dolan
04:39 am
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Jan 22, 2010 -- Diversinet, a provider of secure mobile application platforms, has received notice from AllOne Mobile and AllOne Health Group that it has commenced a legal proceeding in Pennsylvania seeking the termination of the September 2008 license and revenue sharing agreement upon payment of $3 million.

AllOne and AllOne Health Group (AHG) have asked the courts for a declaration of the parties' rights and obligations under the license agreement. AllOne and AHG claim that their liability under the license agreement is limited to $3 million. The complaint provides that, should the court provide judgment in AllOne and AHG's favor, AllOne would pay $3 million to Diversinet and terminate the license agreement.

Diversinet is seeking counsel's advice and will review all options and available remedies. Diversinet believes that the amounts due under the license agreement, if terminated at this time, are substantially greater than AllOne and AHG's claim.

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