CoreComm Applauds $6 Million Fine Proposed Against SBC.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 18, 2002 CoreComm Limited (Nasdaq: COMM) voiced its strong support today for the FCC's action proposing a $6 million fine against SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications for refusing to provide competitors with non-discriminatory access to SBC's shared transport Shared transport is a term which has come into use to provide an extended definition of what has often been thought of and referred to in the past as "public transport". The term has taken on especial relevance as a result of the push to more sustainable transportation or New network. In a Notice of Apparent Liability released this morning, the FCC's Enforcement Bureau found that SBC appears to have "willfully willfully adv. referring to doing something intentionally, purposefully and stubbornly. Examples: "He drove the car willfully into the crowd on the sidewalk." "She willfully left the dangerous substances on the property." (See: willful) and repeatedly" refused to provide competitive telephone companies like CoreComm with non-discriminatory access to SBC's network for the purpose of transporting local toll calls, as required under the conditions of SBC's merger with Ameritech. On August 28, 2001, CoreComm filed a formal complaint with the FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. against SBC/Ameritech alleging the same violations set forth in the FCC's forfeiture The involuntary relinquishment of money or property without compensation as a consequence of a breach or nonperformance of some legal obligation or the commission of a crime. The loss of a corporate charter or franchise as a result of illegality, malfeasance, or Nonfeasance. notice, which found SBC's conduct to be "egregious e·gre·gious adj. Conspicuously bad or offensive. See Synonyms at flagrant. [From Latin ." Although the complaint is still pending, CoreComm believes that the FCC's action today further underscores the seriousness of SBC's alleged violations and will help to bring about a swift and favorable conclusion to CoreComm's complaint. "The FCC's proposed $6 million forfeiture is the statutory maximum and should send a clear message to SBC that its ongoing efforts to stifle local competition will not be tolerated," said Christopher A. Holt, CoreComm's Senior Vice President and Chief Counsel for Law and External Affairs. "Hopefully, this will bring about an end to SBC's repeated refusal over the last few years to provide competitors - including CoreComm - with fair and non-discriminatory access to SBC's shared transport network," said Holt. "We applaud the FCC's action and encourage its Enforcement Bureau to keep a watchful eye on SBC's conduct in the local marketplace." CoreComm/ATX is a leading facilities-based integrated communications provider delivering innovative voice, Internet, data, e-business, and wireless solutions. CoreComm and ATX See ATX motherboard. (hardware, standard) ATX - An open PC motherboard specification by Intel. ATX is a development of the Baby AT specification with the motherboard rotated 90 degrees in the chassis. joined forces in September 2000, bringing a 16-year track record of success to approximately 440,000 consumers and businesses throughout the Mid-Atlantic and Midwest regions. CoreComm/ATX leverages its proven model of consultative services, consolidated broadband offerings, and personalized account management to provide reliable products and a competitive advantage for its customers. For more information on CoreComm/ATX, please visit www.core.com http://www.core.com . Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 - Certain statements contained herein constitute "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be different from those contemplated. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting such statements. |
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