Additional $137,000,000 - USD - Jury Award to Universal Express - USXP.Business Editors NEW YORK--(BUSINESS WIRE)--April 23, 2003 Universal Express, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :USXP) announced that a new jury in Circuit Court, Dade County Dade County can refer to the following places:
In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) plus interest; this five year 'righting of short-selling wrongs' has now completed the circle of the leaders of this corporate violation. Collecting actual funds has been ongoing since our initial jury award and this judgment adds substantially to our legal rights of subpoenas, seizures and even possible additionally announced professional co-conspirators," said Richard A. Altomare, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of USXP. "To continue on this highly visible collection process, I once again repeat our corporate position on the awards, the collectibility, and the options of our developing company," continued Mr. Altomare. "First, we here at Universal Express are grateful to the jury for vindicating the actions that resulted in our stock price of $2.00 becoming .02 due to a conspiracy to defraud To make a Misrepresentation of an existing material fact, knowing it to be false or making it recklessly without regard to whether it is true or false, intending for someone to rely on the misrepresentation and under circumstances in which such person does rely on it to his or us by Select Capital, Ron Williams
intr.v. per·se·vered, per·se·ver·ing, per·se·veres To persist in or remain constant to a purpose, idea, or task in the face of obstacles or discouragement. in court is to collect the amounts already stolen from our shareholder value," said Mr. Altomare. "Universal Express, its subsidiaries and its programs, are much more than a massive total of $525,000,000 in judgments. Our position remains constant on collections first, and taxable right-offs second when future developments or acquisitions entitle us to them, if any of the $525,000,000 remains uncollected at that time," stated Mr. Altomare. "Realizing the obvious excitement that our judgment announcements often cause, I ask our shareholders to realize the value placed by juries of our peers, after intense examination, on the substantial scope, possibilities and value of your Company," Mr. Altomare further stated. "With special appreciation to our General Counsel, his staff and our outside legal firms and collection teams, I know as you do, that now it's our turn to get back what was wrongfully stolen from us," concluded Mr. Altomare. Universal Express, Inc. today owns and operates several subsidiaries including Universal Express Capital, Universal Express Logistics (including VirtualBellhop, WorldPost and Luggage Express) and the Private Postal Network. These subsidiaries provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
More information and web site locations are available at www.usxp.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: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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