COURT DENIES GO-VIDEO'S APPEAL OF DECISION
COURT DENIES GO-VIDEO'S APPEAL OF DECISION SCOTTSDALE, Ariz., Oct. 16 /PRNewswire/ -- Go-Video, Inc.
(AMEX: VCR) announced today that the U.S. Court of Appeals for the Ninth Circuit Court denied the company's appeal of the trial court's decision in the antitrust and unfair competition lawsuit against certain Japanese electronics companies. The company will seek judicial reconsideration and review of this matter. Two other appeals of company antitrust and unfair competition claims remain pending in the Ninth Circuit Court.
R. Terren Dunlap, chairman and chief executive officer of GO-VIDEO said, "Notwithstanding the court's recent decision, the company's litigation strategy has been successful. As previously reported, we obtained a manufacturing agreement to build our Dual-Deck videocassette recorder and received $6.8 million in total cash settlements. A year ago, the company committed to its shareholders that it would focus its attention on making the company successful through expanded sales of Dual-Deck VCRs and ultimate profitability. In fact, the company's recent results show significant increases in sales and reduction of losses. The company is projecting an operating profit for fiscal 1993." -0- 10/16/92 /CONTACT: R. Terren Dunlap, chairman and CEO of GO-VIDEO, Inc., 602-998-3400/ (VCR) CO: Go-Video, Inc. ST: Arizona IN: SU:
SH-OS -- NY044 -- 1001 10/16/92 13:40 EDT
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|Date:||Oct 16, 1992|
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