AFV Solutions Evaluating Counterclaim Lawsuit Against CAW.MESA, Ariz. -- AFV AFV Alternative-Fuel Vehicle AFV America's Funniest Home Videos (TV show) AFV Armored Fighting Vehicle AFV America's Funniest Videos AFV Amniotic Fluid Volume AFV America's Funniest Home Video AFV Avantage Fiscal Solutions, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AFVS), today responded to the frivolous claims without merit made by China Auto Worldwide, Inc. in a June 7th press release. "I'm evaluating a malicious prosecution An action for damages brought by one against whom a civil suit or criminal proceeding has been unsuccessfully commenced without Probable Cause and for a purpose other than that of bringing the alleged offender to justice. counterclaim A claim by a defendant opposing the claim of the plaintiff and seeking some relief from the plaintiff for the defendant. A counterclaim contains assertions that the defendant could have made by starting a lawsuit if the plaintiff had not already begun the action. against CAW and its affiliated entities as well as its officers and directors," stated Jeff Groscost, President of AFV Solutions. "On behalf of the AFV Solutions management and AFV Solutions shareholders it is our duty to vigorously prosecute any frivolous and unfounded representations from CAW." AFV Solutions received a complaint dated June 2, 2006 alleging six causes of action, all of which AFV has deemed to be baseless and without merit. "I'm astonished a·ston·ish tr.v. as·ton·ished, as·ton·ish·ing, as·ton·ish·es To fill with sudden wonder or amazement. See Synonyms at surprise. by the malicious and unfounded allegations made by China Auto Worldwide," stated Richard Steele, consultant to AFVS. "I have never met with or been introduced to China Auto Worldwide or Mr. Tim Taylor. Furthermore, I don't believe that CAW even has offices or business in China other than a small operation in Las Vegas, Nevada." "My attorneys have been instructed to aggressively and promptly respond to this groundless litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ," Steele went on to say. "We are very disturbed by this complaint, as it is clearly not based on reality. We have vowed to use all available resources to reach a prompt resolution to this matter," stated Jeff Groscost, President of AFVS. For more information about AFV Solutions, its business developments, and current news, please visit www.afvsolutions.com or call our newly opened Irvine showroom at 949-748-6600. About AFV Solutions, Inc. AFV Solutions, Inc. is an alternative fuel vehicle Alternative fuel vehicle Conventional fuels such as gasoline and diesel are gradually being replaced by alternative fuels such as gaseous fuels (natural gas and propane), alcohol (methanol and ethanol), and hydrogen. solutions provider dedicated to seeking alternatives to petroleum as a fuel for transportation. It offers options to gasoline users through propane and compressed natural gas Compressed Natural Gas (CNG) is a substitute for gasoline (petrol) or diesel fuel. It is considered to be an environmentally "clean" alternative to those fuels. It is made by compressing natural gas (which is mainly composed by methane (CH4 (CNG CNG Compressed Natural Gas CNG Calling (Tone) CNG Comfort Noise Generation CNG Cryptography Next Generation (Microsoft Windows Vista) CNG Centre National de Génotypage ) conversions. Utilizing advanced technologies, AFV Solutions provides immediate results in terms of fuel economy, a cleaner environment and cost savings. AFV Solutions researchers are also exploring ways to obtain a higher ethanol yield than is currently possible, working to create on-board hydrogen generation for vehicle applications, and developing hybrid electric and hybrid diesel bus applications. Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, actual outcome of the litigation, claims made in the complaint, AFVS's ability to expand in the alternative fuel industry, the competitive environment within the alternative fuel industry, the extent and cost effectiveness with which AFVS is able to compete in the alternative fuel industry, and the market acceptance and successful technical and economic implementation of AFVS's intended plan. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. AFVS undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion