Stream TV Officials Hit With Suit Over Alleged Takeover Plot (1)

Stream TV Networks Inc. officers, directors, and controlling shareholders were hit with a lawsuit in Delaware Chancery court by investors who allege a pervasive scheme to obtain near-total control of the company using deceptive tactics.

Alastair Crawford, Charles Birchall, Eamonn Manson, and other plaintiffs say they were induced to invest about $10.7 million in Stream TV over six years based on numerous misrepresentations. The defendants include Mathu Rajan, the chief executive officer of the company and a member of its board, as well its chief operating officer and general counsel, Raja Rajan, and their family holding company, Akshaya Holding LLC. ...