Beverly Hills Film Studios Files Legal Action Against Ex-Executive BJ Davis.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Today the company's officers, directors and principal management of Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. Film Studios Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BVHJ) announced that the company has filed a major civil action in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. against BJ Davis (aka Beau Davis, aka Bobby Joe Davis), the recently terminated president of the company. Robert Braner, speaking on behalf of the company's board of directors and the company's management, said, "This legal action against Mr. Davis in no way impedes or restricts Beverly Hills Film Studios' operational status. The company is in solid shape, its projects currently underway and in post-production remain on track, and the company's management continues to execute on all projects currently in the pipeline." The nature of the action against Davis includes that Davis has personally looted the company by paying himself and his wife well over $1,000,000, and taking the company through a 100:1 reverse and further issuing himself 100,000,000 shares of stock. The action further states that Davis has attempted to block all production on the company's current film projects, and has made physical threats against the company's personnel, and has attempted to misappropriate mis·ap·pro·pri·ate tr.v. mis·ap·pro·pri·at·ed, mis·ap·pro·pri·at·ing, mis·ap·pro·pri·ates 1. a. To appropriate wrongly: misappropriating the theories of social science. the company's film assets for himself. The company's board stated, "Mr. Davis has continued to attempt to disrupt and interfere with the operations of the company by contacting employees, independent contractors and creditors. These actions by Mr. Davis are unfounded and will not be tolerated by the company." The company will demand that Davis returns all stock improperly issued, and returns to the company all monies paid by Davis to himself and others not approved by the company, its management and its board of directors. Beverly Hills Film Studios continues with the expansion and growth strategy based on the company's fundamental operating formula of producing and delivering to the international market, low production cost, high-quality films featuring top box office star talent. Beverly Hills Film Studios presently has two films that are completed and in post production. Information is available at the company's Web site: www.beverlyhillsfilmstudios.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: Certain statements contained in this press release are forward-looking statements (as such term is defined in 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) and information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company that is based on the beliefs of the management of the company, as well as assumptions made by and information currently available to the management of the company. |
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