Aspeon and its CEO File Suit Against Former Auditors.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Aug. 23, 2001 Aspeon Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ASPE ASPE Assistant Secretary for Planning and Evaluation (US Department of Health and Human Services) ASPE American Society of Plumbing Engineers ASPE American Society for Precision Engineering ASPE Association of Standardized Patient Educators ) today announced that the company and its 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. have filed a six count complaint against the company's former auditors, PricewaterhouseCoopers LLP LLP - Lower Layer Protocol , alleging professional negligence professional negligence n. See malpractice. , intentional interference with prospective business advantage, negligent interference with prospective economic advantage, violation of California Business and Professions Code Sections 17200 and 17500, and defamation. Richard Stack, Aspeon CEO, said, "We have retained the law firm of Payne & Fears, LLP to represent us in this action." About Aspeon Aspeon is a leading manufacturer and provider of point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) systems, services and enterprise technology solutions for the retail and foodservice markets. Visit Aspeon at www.aspeon.com. Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the intent, belief or current expectations of Aspeon and its management regarding the company's strategic directions, prospects and future results. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including, Aspeon's ability to return to profitability, the continued forbearance of Aspeon's lenders and creditors, the successful restructuring of Aspeon's Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , the outcome of 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. filed against Aspeon and Aspeon's ability to raise funds from additional debt and/or capital, and its competitive environment, economic and other conditions in the markets in which the company operates, changes in laws, changes to or clarifications of accounting rules or approaches and/or their applications, the size and timing of customer orders, delays in new product enhancements and new product and/or service introductions, quality control difficulties, changes in market demand, and other risks discussed in the company's filings with the SEC, which discussions are incorporated herein by reference. Such forward-looking statements represent management's current expectations and are inherently uncertain. The company's actual results and performance may differ materially. The company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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