CTC Communications and Bell Atlantic Settle Federal Court Case.WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 25, 1999--Bell Atlantic Corp. (NYSE:BEL) and CTC CTC - Cable i Televisió de Catalunya CTC - Cadre Training Course CTC - Calcutta Tramways Company CTC - California Commission on Teacher Credentialing CTC - California Telecommunications Coalition CTC - California Tomato Commission CTC - California Transportation Commission CTC - Call the Cell CTC - Call Them Collect CTC - CALS Technology Center CTC - Camera, Timing and Control (NASA) CTC - Campus Technology Center (Sprint) Communications Corp. (NASDAQ NNM:CPTL CPTL - Center for Trade Policy and Law (Carleton University; Ottawa, Canada)) announced today that they have settled the federal court litigation in the United States District Court in Portland, Maine. Under the terms of the settlement, CTC will receive cash and other consideration in settlement of the dispute over commissions earned by CTC while it was a sales agent for Bell Atlantic. Both parties have agreed to keep the specific terms of the settlement confidential. Robert J. Fabbricatore, Chairman of the Board and CEO of CTC stated "CTC is very pleased with the terms of our settlement and look forward to a long and continued business relationship with Bell Atlantic." Jack H. White, an attorney for Bell Atlantic stated, "We are pleased that the pending litigation has been terminated and that a mutually satisfactory agreement has been reached. Bell Atlantic looks forward to continuing to work with CTC on the wholesale side of our business." CTC is a rapidly growing provider of integrated communications solutions to medium and large sized business customers in the Northeastern U.S. It provides an extensive array of voice and data services including local, long distance, frame relay, Internet access, and other advanced data services. The Company markets its services through its 175 member direct sales force located in 25 branch offices throughout Maine, New Hampshire, Vermont, Massachusetts, Rhode Island Connecticut, New York and Maryland. Company headquarters are in Waltham, Massachusetts and CTC can be found on the worldwide web at www.ctcnet.com. The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from those reflected in the forward -looking statements. Readers are, accordingly, cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Additional information about these risks and uncertainties is set forth in the Company's most recent report on Form 10-Q. CTC undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect results, events or circumstances after the date hereof. |
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