Canterbury Dismisses Its Arbitration Claims Pays $912,000 to Ceridian.MEDFORD, N.J. -- Canterbury Consulting Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CITI CITI Columbia Institute for Tele-Information (Columbia University) CITI Center for Information Technology Integration (University of Michigan) CITI Collaborative IRB Training Initiative ) reported that as of October 27, 2004, Canterbury and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Usertech/Canterbury Corp., had withdrawn all of their claims against Ceridian Corporation. In addition, Canterbury has paid Ceridian $912,000 in settlement of all claims including the counterclaims asserted by Ceridian. The parties have exchanged mutual releases and the pending American Arbitration Association The American Arbitration Association (AAA) is a private enterprise in the business of arbitration, and one of several arbitration organizations that administers arbitration proceedings. The AAA also administers mediation and other forms of alternative dispute resolution. case is to be dismissed. The dismissal of the arbitration proceeding and exchange of releases does not preclude Canterbury from seeking all of its remedies against E. Paul Cooke arising out of his employment agreement with Usertech/Canterbury Corp., as well as any cause of action Canterbury may have against InComm Solutions Inc., and/or its agents. Canterbury has filed a Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. with the Securities and Exchange Commission relating to this event and has attached as an exhibit the Settlement Agreement and Mutual Release. This filing may be accessed in its entirety on the internet at www.sec.gov or by contacting the Company. This press release contains forward-looking statements. The Company's performance and financial results could differ materially from those reflected in the forward-looking statements due to general financial, economic, regulatory and political conditions or additional factors unknown to the Company at this time, as well as more specific risks and uncertainties such as those set forth in documents filed by the Company with the SEC (including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended November 30, 2003 and its most recent reports on Form 8-K and Form 10-Q Form 10-Q See 10-Q. , copies of which are available upon request or over the Internet at www.sec.gov). Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. Furthermore, the Company has no intent, and disclaims any obligation, to update any such factors or forward-looking statements to reflect future events or developments. |
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