Central Bank reports that judge directs Genesis Financial Services to issue a retraction.SOMERVILLE, Mass.--(BUSINESS WIRE)--Sept. 24, 1996--Central Bank (NASDQ:CEBK) reported that at a conference this afternoon with the judge in charge of the lawsuit between Central Bank and Genesis Financial Partners L.P., in Cambridge, Mass., Superior Court Judge Hiller Zobel directed Genesis to immediately issue a retraction In the law of Defamation, a formal recanting of the libelous or slanderous material. Retraction is not a defense to defamation, but under certain circumstances, it is admissible in Mitigation of Damages. Cross-references Libel and Slander. correcting the record. It was revealed that Genesis and Mr. Gordon of Genesis had faxed a statement to a wire service/newsletter and others which was widely disseminated today falsely stating that Central Bank's claims against Genesis had been dismissed and that Genesis had won a "significant victory." In fact, Genesis' counsel, Bingham Dana & Gould, did not even authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) the story, and Genesis' counsel was unaware that Genesis had made the false statement and used its counsel's name in Genesis' statement to make it appear factual. Judge Zobel directed an immediate retraction. Central Bank provided Genesis with the following text of a retraction: Public Retraction At the direction of Judge Hiller Zobel of the Massachusetts Superior Court, Genesis stated that its September 23/24 public statements to SNL SNL Saturday Night Live SNL Sandia National Laboratories SNL School for New Learning (Depaul University) SNL Springfield News-Leader (Missouri newspaper) SnL Sweet N Low SNL Standard Nomenclature List Securities and others about the Central Bank lawsuit were retracted re·tract v. re·tract·ed, re·tract·ing, re·tracts v.tr. 1. To take back; disavow: refused to retract the statement. 2. because those statements are wrong. Genesis further stated that the court action with Central Bank has not been dismissed. No judgement has been entered on Central Bank's counterclaims, and Bingham Dana & Gould did not authorize the statement previously made by Genesis which was erroneous. Central Bank's President, John Doherty John Doherty is the name of:
steer, tip, wind, hint, lead . Genesis' false statement today is in character for it." Central Bank is a Massachusetts chartered co-operative bank The Co-operative Bank is a co-operative bank trading in the United Kingdom with headquarters in Manchester, UK. It is an ethical bank, and refuses to invest in companies involved in the arms trade, genetic engineering, animal testing and use of sweated labour as stated in its operating 8 full service offices in suburban Boston. CONTACT: Central Bank William P. Morrissey, 617/628-4000 |
|
|||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion