America's Senior Subsidiary Jupiter Mortgage Corporation Wins Summary Judgment Against National Bank of Commerce -NBC-.Business Editors JUPITER, Fla.--(BUSINESS WIRE)--July 11, 2003 NBC Claims Dismissed as Groundless and NBC Ordered to Pay Costs America's Senior Financial Services, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMSE AMSE American Museum of Science & Energy (Tennessee) AMSE Aircraft Maintenance Support Equipment (Canadian Forces) AMSE Advanced Mass Sender Enterprise ) announced that yesterday, July 10th 2003, in the Circuit Court of the 13th Judicial Circuit in and for Hillsborough County, Florida Hillsborough County is a county located in the U.S. state of Florida. The 2000 population was 998,948. In 2007, the Hillsborough County Planning Commission conducted a population estimate that put the county's population at 1,204,770. Its county seat is Tampa, Florida6. : AMSE subsidiary Jupiter Mortgage Corporation (JMC) was granted its Motion for Summary Judgment motion for summary judgment n. a written request for a judgment in the moving party's favor before a lawsuit goes to trial and based on recorded (testimony outside court) affidavits (or declarations under penalty of perjury), depositions, admissions of fact, answers against National Bank of Commerce, on the merits on the merits adj. referring to a judgment, decision or ruling of a court based upon the facts presented in evidence and the law applied to that evidence. A judge decides a case "on the merits" when he/she bases the decision on the fundamental issues and considers , and including an order for NBC to pay related attorney's fees. Nelson A. Locke, AMSE 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. stated, "For reasons never fully explained to us, Jupiter was wrongfully named in this meritless lawsuit brought by NBC. This was a case of mistaken identity. AMSE and JMC made repeated good faith efforts to satisfy NBC's questions and avoid 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. . With complete disregard of publicly available factual information that would have answered their questions, they elected to sue JMC. AMSE successfully defended resulting in a complete and total dismissal of NBC's claims and an order requiring NBC to pay a portion of our legal expenses. We will not tolerate and shall immediately defend against any meritless litigation. We want to assure our shareholders, however, that we will NOT be distracted from our primary mission of increasing business and improving fundamentals." Gary Barcus is AMSE's General Counsel. He stated, "AMSE's management is determined to protect shareholder value. Here they have exhibited fortitude and perseverance by staunchly defending against NBC's claim - which the courts determined was without merit." Attorney Barcus can be reached at 954/438-4222. AMSE is in the process of finalizing its 2nd quarter 2003 results. Initial drafts indicate a second quarter bottom line improvement of more than $500,000 over the same period 2002. The 2nd quarter 10Q filing is expected to be filed on time, and soon. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: 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 provides a safe harbor from civil litigation for forward-looking statements. This news release contains information regarding the favorable outcome of litigation and forward-looking statements regarding the effect that the legal victory may or may not have on the Company's future operations. These forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. To contact Investor Relations, email the Company at info@americassenior.com. The Company's web addresses are http://www.americassenior.com and http://www.jupiter-mortgage.com For more information, contact Nelson A. Locke. |
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