CMU reports that Naxos has filed suit in Tennessee against Kuke Music, a classical subscription service in China. It claims Kuke owes $1.9 million in unpaid fees.
CMU says: The legal dispute is presumably problematic for the Beijing-based New York-listed Kuke, which has struggled to comply with New York Stock Exchange rules of late due to its slumping share price.
Murkier still, “a director of Kuke is the controlling shareholder” of parent company Naxos One.
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