ATX Achieves Significant Victory in Litigation With Easton, LLC; Federal Court Dismisses Several Million Dollars of Easton Claims as Unenforceable Penalty.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 23, 2002 ATX See ATX motherboard. (hardware, standard) ATX - An open PC motherboard specification by Intel. ATX is a development of the Baby AT specification with the motherboard rotated 90 degrees in the chassis. Communications, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : COMM), a leading integrated communications provider, today commented on the decision of the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. in Cleveland, Ohio which ruled in ATX's favor, dismissing approximately $4.0 million of the total amount of approximately $5.1 million sought by Easton Telecom Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . In a decision released today, District Judge James S. Gwin cited multiple points in favor of ATX, finding Easton's claims against certain indirect and wholly-owned ATX subsidiaries to be an unenforceable penalty. After purchasing assets of bankrupt Teligent, Inc., Easton demanded liquidated damages Monetary compensation for a loss, detriment, or injury to a person or a person's rights or property, awarded by a court judgment or by a contract stipulation regarding breach of contract. from ATX subsidiaries for early termination of alleged contracts between the parties. ATX successfully asserted multiple defenses, including challenges to the validity of the alleged contracts and Easton's claim to alleged damages. "We applaud the Court's decision to eliminate nearly eighty percent of this frivolous claim," stated Christopher Holt, ATX's Senior Vice President and Chief Counsel. "We've always viewed this 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. as lacking merit, and today's ruling supports that position. We will continue to defend ourselves vigorously against this and any other claims that seek to unjustly disrupt the momentum we've gained in successfully executing our business model." About ATX Founded in 1985, ATX is a facilities-based integrated communications provider offering local exchange carrier and inter-exchange carrier telephone, Internet, e-business, high-speed data, and wireless services to business and residential customers in targeted markets throughout the Mid-Atlantic and Midwest regions of the United States. ATX currently serves approximately 400,000 business and residential customers. For more information on ATX, please visit www.atx.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: In addition to the historical information presented, this release also includes certain forward-looking statements concerning the future development of the business. Such statements represent the Company's reasonable judgment on the future and are based on assumptions and factors that could cause actual results to differ materially. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in factors affecting such statements. |
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