SB Capital Management Inc. has filed a lawsuit in response to defamatory statements made by VTV1 last month. In an effort to clear the air and prevent similar attacks, Chairman Levi Russell is prepared to lead his firm to moral and financial victory.
SAN FRANCISCO, CA, June 10, 2020 /24-7PressRelease/ — On May 26, 2020 a landmark court filing took place in the Superior Court of California, County of San Francisco, bearing the case number CGC-20-584555. It indicated in no uncertain terms that the billion-dollar US investment firm, SB Capital Management Inc. had sued the Vietnamese News Broadcasting Company (“VTV1”) and its acting general manager, Tran Binh Minh, for defamation and trade libel with demand for a jury trial. As per the lawsuit, in or around 2020 SB Capital Management Inc. had undertaken an initiative to expand its investment opportunities into the Asian market. As part of this initiative to expand a merger with Newlife Investment Group (Hanoi, Vietnam) was announced. Following a successful and widespread news campaign announcing and celebrating this new partnership between SB Capital Management Inc. and Newlife Investment Group, Vietnam’s “Business Financial News” television program broadcasted to its international audience that Levi Russell, Chairman and President of SB Capital Management Inc., was a fraudulent company with zero employees. This allegation was unsubstantiated and false.
“We are investing one billion dollars into the Vietnamese community, because we feel in the Asian-Pacific markets [Vietnam is] the choice to make,” states Mr. Russell. “How can the Vietnam government allow such… slanderous acts deliberately contrived without any due diligence done to check the facts reported by Business Financial News, Vietnam Broadcasting Company and VTV1?”
Business Financial News broadcasted to its international audience claims that Levi John Russell had entered into a contract with its Vietnamese partners prior to its formation as a company—yet another unsubstantiated and false claim. During the same broadcast, the program also warned its international audience that, due to the above mentioned allegations, Mr. Russell’s Vietnamese partners should not invest or do business with Mr. Russell and SB Capital Management Inc. They were referring to both actual and prospective partners with their statements, thereby creating a broad, sweeping declaration that has “shaken the very foundation of SB Capital Management Inc.” according to a spokesperson for the firm.
“We demand that the Vietnam Broadcasting company cease and desist all reporting of fake news about SB Capital Management, Newlife and Gold Game Vietnam. [Our US attorneys have filed lawsuits] in accordance with… the company’s financial and brand damage assessment. At the same time, through the Vietnam Consulate in the US and the American Business Association in Vietnam we will collaborate with the Vietnam government in order to clarify the violations of both the Vietnam broadcasting station and VTV1. In order to punish and deter VTV1’s misconduct, SB Capital Management Inc. is seeking six hundred million dollars in in damages.”
The firm’s leadership feels that $600 million is commensurate with the actual and potential losses suffered as a result of the unsubstantiated allegations publicly promoted by VTV1 and its associates. SB Capital has stated pointedly in the suit that it has sustained pecuniary damage including loss of business and significant damage in reputation, amongst other factors. The firm believes the actions of VTV1, Tran Binh Minh (acting GM), and other associates, have also caused a loss of future business.
“Aside from the lawsuit, this firm has nothing but good things happening right now—groundbreaking investments, charity events, community support,” states Nguyen Van Anh, CEO of SB Capital Management Inc. “We will not allow bad actors of any kind to ‘poison the well’ for our investors and the future of SB Capital Management.”
The lawsuit has been filed with the Superior Court of California, County of San Francisco, case number CGC-20-584555. Jury Trial is expected later this year. For further reading on this lawsuit please visit the Court website here.
Additional information on SB Capital Management Inc. is available as always on their official website.
ABOUT SB CAPITAL MANAGEMENT, INC.
SB Capital Management is a multinational investment firm with offices in New York and San Francisco. The firm represents a broad range of interests, from large institutions to individual investors, spanning across the globe with a particular emphasis on the US and Asia-Pacific markets. The Company’s aim is to help clients grow a powerful portfolio with their tailored approach to business. The firm’s leadership, Levi Russell and Nguyen Van Anh pride themselves on their strategic investment acumen, which has yielded opportunity, value and vast rates of return for clients everywhere. The “SB Investment Philosophy” is simple: Low-risk investing with high-rate returns. This is driven by constant industry innovation and studying of trends all over the world. In the firm’s own words, SB Capital Management’s mission is to become the best investment firm in the world.
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