Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) told investors it has begun legal action to regain control of certain intellectual property, including the chill.com domain and certain trademarks.
The company, in a statement on Thursday, confirmed it has filed a complaint with the US District Court for the District of Colorado
It added that it has terminated Antonio Russo and Trevor Taylor, the company’s former directors, employment contracts with immediate effect.
The company noted that the assets were transferred out of the control of the company by the former directors, who were removed from the board at a general meeting in June.