Araldica Wineries, Ltd. Makes Announcement.NEW ROCHELLE New Rochelle (rōshĕl`), city (1990 pop. 67,625), Westchester co., SE N.Y., on Long Island Sound; settled by Huguenots 1688, inc. as a village 1858, as a city 1899. , N.Y.--(BUSINESS WIRE)--Sept. 2, 1998--Araldica Wineries, Ltd. (OTC/BB symbol "AWLT") announced today that it and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of investor C. Elvin Feltner Jr. had jointly engaged the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. law firm of Robson and Miller to file a lawsuit against the "Wine Investment News" newsletter, of Sonoma, Calif. for libel, defamation and slander slander: see libel and slander. Slander See also Gossip. Slaughter (See MASSACRE.) Basile calumniating, niggardly bigot. [Fr. Lit. . The lawsuit is the result of a recent series of articles in Wine Investment News that have been characterized by Araldica as being knowingly and intentionally untruthful, and that have, in Araldica's words, made sensationalized, false, misleading and reckless public statements in print, repeatedly, about Feltner, Araldica, and Araldica's executives. Frank J. Landi, Sr., President of Araldica Wineries, Ltd. also stated that, "Those remarks have caused substantial damage to the company and have been the sole, direct cause of Araldica's publicly traded shares having dropped in value by seventy-five percent, causing recent losses to all of Araldica's 500 shareholders in the millions of dollars." Araldica and Feltner have indicated that after the lawsuit is filed, they will amend it to include new actual and punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. for each new defamatory article published by Wine Investment News, which the company has accused of being in league with certain short-sellers of the company's shares, in a conspiracy to artificially depress de·press v. 1. To lower in spirits; deject. 2. To cause to drop or sink; lower. 3. To press down. 4. To lessen the activity or force of something. the price of the company's publicly traded stock. Araldica Wineries, Ltd. is a five year old public company engaged in the sale of imported Italian wines, olive oils and specialty foods.
CONTACT: Araldica Wineries, New Rochelle
Frank Landi, 914/636-0500
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