Shanghai, China
Shanghai, China

ACORN International is a federation of member-based community organizations that is active in Canada, Peru, Argentina, Mexico, India, Kenya, the Dominican Republic, Honduras, South Korea, Czech Republic and Italy with partners in the Philippines and emerging affiliates in Trinidad & Tobago. The membership currently numbers approximately 55,000 families. Wikipedia.

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News Article | May 15, 2017
Site: www.prnewswire.com

Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/acorn-international-files-2016-annual-report-on-form-20-f-300457343.html


News Article | May 15, 2017
Site: en.prnasia.com

SHANGHAI, May 15, 2017 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company") today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2016 with the Securities and Exchange Commission on May 15, 2017.  The annual report can be accessed on the Company's investor relations website at http://www.acorninternationalir.com. Acorn will provide a hard copy of its annual report for the fiscal year ended December 31, 2016, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company's IR representatives, or in writing to Acorn International, Inc., 19/F, 20th Building, No. 487 Tianlin Road, Shanghai, 200233, PRC. Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/acorn-international-files-2016-annual-report-on-form-20-f-300457343.html


News Article | July 18, 2017
Site: www.prnewswire.com

"I'd like to thank Mr. Naphtali and Mr. Borelli for their contributions to the board over the last few years. Their expertise as professional fiduciaries was invaluable in guiding the Company through a particularly tumultuous time," said Mr. Jacob A. Fisch, President of Acorn. "Now that Acorn is at an inflection point, we will seek to replace their seats with business leaders and entrepreneurs with industry experience more relevant to Acorn's business going forward." Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


News Article | August 4, 2017
Site: en.prnasia.com

SHANGHAI, Aug. 5, 2017 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company") today announced that it entered into a settlement agreement on July 28, 2017 (concluding with the related share buyback on August 3, 2017) (the "Settlement Agreement") relating to (among other things) a claim filed on December 1, 2016 in the Grand Court of the Cayman Islands (the "Cayman Court") against Andrew Y. Yan, Gordon Xiaogang Wang, and Jing Wang, each former directors of the Company (the "Former Directors") over alleged breaches of fiduciary duties, misconduct and/or mismanagement. Acorn's action against the Former Directors arose out of the previously disclosed dispute between two groups of the Company's shareholders. Among other things, that dispute involved the improper removal of Mr. Robert W. Roche from his role as Executive Chairman of Acorn by certain members of its then-board of directors. In connection with various actions relating to the shareholder dispute, in March 2016 the Cayman Court found in favor of Roche Enterprises Ltd ("REL", formerly Acorn Composite Corporation), a company wholly owned by Mr. Roche. The claim subsequently filed in the Cayman Court by Acorn in December 2016 alleged that in removing Mr Roche as Executive Chairman, and in subsequent conduct on behalf of Acorn, the Former Directors had breached their fiduciary duties to Acorn and were responsible for misconduct in and/or mismanagement of Acorn's business, and were liable to Acorn for the loss and damage caused to it as a consequence of such conduct. Pursuant to the Settlement Agreement, the Company, REL, the Former Directors and SB Asia Investment Fund II L.P., an exempted limited partnership registered in the Cayman Islands ("SAIF") will, among other things, discontinue and/or withdraw all claims, counterclaims and taxation proceedings in the Cayman Court related to the above mentioned matters. Agreement was also reached for the Company to repurchase all of the ordinary shares of the Company owned by SAIF, representing 27.7% of the total outstanding ordinary shares of the Company, for the purchase price of approximately $4.17 million, the equivalent of $4.05 per ADS. The purchase price represents an approximately 60.5%, 64.8% and 62.8% discount to the closing price of the Company's ADSs based on the 30-day, 60-day and 90-day moving average, respectively. The repurchased shares will be cancelled. After giving effect to the Company's repurchase of the shares held by SAIF, the Company will have 53,626,050 ordinary shares outstanding or the equivalent of 2,681,302 ADSs. The Company's audit committee reviewed and approved the related party aspects of the Settlement Agreement under the terms of its charter. The Settlement Agreement was subsequently approved by the Company's current board of directors. Jacob Fisch, President of Acorn said, "In addition to being a good deal for our company, this is a highly symbolic moment for Acorn where, after years of difficulty, we are now able to truly put the troubles of our past behind us and be 100% forward-looking as we grow our business into the future." Robert Roche, Executive Chairman of Acorn and President, Roche Enterprises agreed, "We are pleased with this outcome and are excited that we can now focus our efforts on enhancing and growing the business." Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


News Article | August 4, 2017
Site: www.prnewswire.com

Acorn's action against the Former Directors arose out of the previously disclosed dispute between two groups of the Company's shareholders. Among other things, that dispute involved the improper removal of Mr. Robert W. Roche from his role as Executive Chairman of Acorn by certain members of its then-board of directors. In connection with various actions relating to the shareholder dispute, in March 2016 the Cayman Court found in favor of Roche Enterprises Ltd ("REL", formerly Acorn Composite Corporation), a company wholly owned by Mr. Roche. The claim subsequently filed in the Cayman Court by Acorn in December 2016 alleged that in removing Mr Roche as Executive Chairman, and in subsequent conduct on behalf of Acorn, the Former Directors had breached their fiduciary duties to Acorn and were responsible for misconduct in and/or mismanagement of Acorn's business, and were liable to Acorn for the loss and damage caused to it as a consequence of such conduct. Pursuant to the Settlement Agreement, the Company, REL, the Former Directors and SB Asia Investment Fund II L.P., an exempted limited partnership registered in the Cayman Islands ("SAIF") will, among other things, discontinue and/or withdraw all claims, counterclaims and taxation proceedings in the Cayman Court related to the above mentioned matters. Agreement was also reached for the Company to repurchase all of the ordinary shares of the Company owned by SAIF, representing 27.7% of the total outstanding ordinary shares of the Company, for the purchase price of approximately $4.17 million, the equivalent of $4.05 per ADS. The purchase price represents an approximately 60.5%, 64.8% and 62.8% discount to the closing price of the Company's ADSs based on the 30-day, 60-day and 90-day moving average, respectively. The repurchased shares will be cancelled. After giving effect to the Company's repurchase of the shares held by SAIF, the Company will have 53,626,050 ordinary shares outstanding or the equivalent of 2,681,302 ADSs. The Company's audit committee reviewed and approved the related party aspects of the Settlement Agreement under the terms of its charter. The Settlement Agreement was subsequently approved by the Company's current board of directors. Jacob Fisch, President of Acorn said, "In addition to being a good deal for our company, this is a highly symbolic moment for Acorn where, after years of difficulty, we are now able to truly put the troubles of our past behind us and be 100% forward-looking as we grow our business into the future." Robert Roche, Executive Chairman of Acorn and President, Roche Enterprises agreed, "We are pleased with this outcome and are excited that we can now focus our efforts on enhancing and growing the business." Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


News Article | August 11, 2017
Site: en.prnasia.com

SHANGHAI, Aug. 11, 2017 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company") today announced that the Company recently reached an agreement to sell a majority stake in its HJX business to a third-party investor and operator. Specifically, the agreement includes the establishment of a joint venture that will be controlled and operated by such third party. Acorn's HJX business engages in direct sales of Ozing branded electronic learning devices incorporating mobile internet interactive features, such as online tutoring services. The partial divestiture of this business unit represents an exit of day-to-day management by Acorn from this business, allowing Acorn to focus on its already profitable businesses and brands, as well as on achieving profitable growth of new businesses within the Group. Under the terms of the agreement, the joint venture will help liquidate a large stock of HJX inventory, transition certain expenses on a pro rata basis to the joint venture and allow Acorn to divest day-to-day operational management to the third-party team. The joint venture is expected to be operational in the coming months. Commenting on the joint venture, Jacob Fisch, President of Acorn said, "This is a great step forward for Acorn and a very solid deal for the company within the context of the overall market environment for electronic learning products. Despite the history and continuing strength of the Ozing brand in China, this business has struggled over the last few years due in large part to an ongoing secular decline of the specialized educational tablet market, as well as an inability to innovate fast enough around new software development. After exploring alternative strategic solutions over the last year, including efforts to turn the business around with internal resources, it became clear that this transaction was the best option for the business at this point in time. "This joint venture marks one of our final key steps in turning around and restructuring the business away from loss-making legacy businesses to focus more closely on our brands and business areas that support our mandate for profitable growth," Mr. Fisch concluded. Executive Chairman Robert Roche agreed, "The agreement with HJX represents a positive move for Acorn as we realign our strategy and focus our attention on businesses that will drive profitable growth." Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


News Article | August 15, 2017
Site: en.prnasia.com

SHANGHAI, Aug. 16, 2017 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company") today announced that the Company's board of directors has appointed Pierre E. Cohade as Lead Director of Acorn. Mr. Cohade was also appointed as chair of the Company's Compensation and Audit Committees. "Since joining the board earlier this year, Pierre has been a highly involved board member, offering valuable insight and guidance in areas such as internal control systems and procedures, best practice optimization, corporate governance and risk control," said Mr. Jacob Fisch, President of Acorn. "In the role of Lead Director, Pierre will continue to provide active support to management. He will also take the lead as a liaison between management and the independent members of the Board. We look forward to working with him more closely as we strive to take Acorn to the next level." Executive Chairman Robert Roche agreed, "Pierre has already made valuable contributions in his short tenure with Acorn helping management in the turnaround of the company, and I am confident that his expertise will continue to help guide the way forward as we focus on growing our business." Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


News Article | August 15, 2017
Site: www.prnewswire.com

"Since joining the board earlier this year, Pierre has been a highly involved board member, offering valuable insight and guidance in areas such as internal control systems and procedures, best practice optimization, corporate governance and risk control," said Mr. Jacob Fisch, President of Acorn. "In the role of Lead Director, Pierre will continue to provide active support to management. He will also take the lead as a liaison between management and the independent members of the Board. We look forward to working with him more closely as we strive to take Acorn to the next level." Executive Chairman Robert Roche agreed, "Pierre has already made valuable contributions in his short tenure with Acorn helping management in the turnaround of the company, and I am confident that his expertise will continue to help guide the way forward as we focus on growing our business." Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


News Article | August 11, 2017
Site: www.prnewswire.com

Under the terms of the agreement, the joint venture will help liquidate a large stock of HJX inventory, transition certain expenses on a pro rata basis to the joint venture and allow Acorn to divest day-to-day operational management to the third-party team. The joint venture is expected to be operational in the coming months. Commenting on the joint venture, Jacob Fisch, President of Acorn said, "This is a great step forward for Acorn and a very solid deal for the company within the context of the overall market environment for electronic learning products. Despite the history and continuing strength of the Ozing brand in China, this business has struggled over the last few years due in large part to an ongoing secular decline of the specialized educational tablet market, as well as an inability to innovate fast enough around new software development. After exploring alternative strategic solutions over the last year, including efforts to turn the business around with internal resources, it became clear that this transaction was the best option for the business at this point in time. "This joint venture marks one of our final key steps in turning around and restructuring the business away from loss-making legacy businesses to focus more closely on our brands and business areas that support our mandate for profitable growth," Mr. Fisch concluded. Executive Chairman Robert Roche agreed, "The agreement with HJX represents a positive move for Acorn as we realign our strategy and focus our attention on businesses that will drive profitable growth." Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com. This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.


News Article | February 24, 2017
Site: www.prnewswire.com

SHANGHAI, Feb. 24, 2017 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2016. Acorn's financial results for 2016 reflect the continuing business...

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