SHANGHAI, April 28, 2013 /PRNewswire/ -- Certiport China has filed a civil complaint in China against Pearson, one of the world's leading education companies, for allegedly stealing its client list, and failing to get prior approval from other investors.
Certiport is a worldwide provider of performance-based certification exams and practice test solutions for academic institutions, workforce, and corporate technology markets. Certiport China was established in 2004 by Certiport along with two other shareholders: Certiland International of BVI, and Odyssey Communications of Japan.
On May 15, 2012, Pearson VUE, the company's computer-based testing division, expanded its presence in international markets by acquiring Certiport. On September 23, 2012, all login credentials for Certiport China's online services were cancelled, according to Mr. Arthur Chen, Chief Financial Officer of Certiport China.
Certiport China and its shareholders have filed a civil complaint against Certiport and Pearson VUE in Shanghai, with an initial court date scheduled for May 23, 2013, at the Shanghai First Intermediate People's Court.
Certiport China claims that Pearson forced a cessation of business operations without shareholder consent and resulted in an estimated loss of earnings of USD1.7 million. Certiport China also alleges that Pearson, under the auspices of auditing the company, stole its list of clients. Certiport China further claims that Pearson did not gain the prior consent of Certiport China's other shareholders, which has irreparably damaged prior customer relationships.
According to Mr. Chen, Certiport should have given Certiport China's shareholders the option of a buyout before Certiport China's acquisition. Mr. Chen believes that the cooperation agreement in place prior to Pearson's acquisition of Certiport has been illegally violated by Pearson's actions and by the creation of a new business unit to replace the services Certiport China previously provided to its customers.
About Certiport China
Certiport China is an IT certification company. Details can be found at www.certiport.com.cn.
SOURCE Certiport China