Citizens Business Bank Wins Appeal.Business Editors ONTARIO, Calif.--(BUSINESS WIRE)--Sept. 19, 2000 D. Linn linn n. Scots 1. A waterfall. 2. A steep ravine. [Scottish Gaelic linne, pool, waterfall.] Wiley, president and chief executive officer, Tuesday announced that Citizens Business Bank received a favorable decision in their lawsuit with MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. Grand Terrace from the California Court of Appeal for the Fourth District. They have issued a final verdict that reversed a judgement in excess of $5 million against Citizens Business Bank. Plaintiffs, MRI Grand Terrace Inc. and TRI TRI Toxics Release Inventory (US EPA) TRI Touch Research Institute TRI Taux de Rentabilité Interne (French: internal rate of return) TRI Taux de Rentabilité Interne TRI Tile Roofing Institute National Development Corp., filed an action against the bank that alleged that the bank had sold a retirement hotel to MRI without disclosing that a large rear parking lot was actually encroaching on a neighboring property. They brought an action in San Bernardino County Superior Court. The jury rendered a series of special verdicts that awarded damages to the plaintiffs. The bank appealed the judgement. On Sept. 14, 2000, the Court of Appeal for the Fourth District issued a final decision that a series of special verdicts issued by the jury were irreconcilable. The Court states in its final verdict that the bank was entitled to a new trial and the judgement should be reversed. "In an effort to keep our shareholders notified, we have reported regularly on the disposition of our lawsuit with MRI Grand Terrace. It has been under review by the California Court of Appeal for a number of months," stated Wiley. Wiley further stated that: "We are pleased to report that CVB CVB Convention and Visitors Bureau CVB College Van Bestuur (Dutch: Managing Council) CVB Camper Van Beethoven (band) CVB Common Vision Blox CVB Center for Veterinary Biologics Financial Corp. today received a final verdict from the Appellate Court A court having jurisdiction to review decisions of a trial-level or other lower court. An unsuccessful party in a lawsuit must file an appeal with an appellate court in order to have the decision reviewed. indicating that the verdict of the lower court should be reversed. It appears that this will lead to a new trial. We believe the case will resolve in our favor. However, until a decision is final, the funds placed in reserve for this case will not be released. If the case goes to a new trial, final resolution could take several years." CVB Financial Corp. operates Citizens Business Bank, the largest bank with headquarters in the Southern California Inland Empire region. Shares of CVB Financial Corp. common stock are listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors of CVB. |
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