D.G. Jewelry Believes Haymarket Claims to be Meritless.Business Editors TORONTO--(BUSINESS WIRE)--Sept. 8, 2000 Haymarket LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . an investor in D.G. Jewelry Inc. (Nasdaq:DGJL) issued a release describing a breach of contract lawsuit that Haymarket has filed against D.G. Jewelry. D.G. Jewelry will not litigate this matter through the Press. It will, however, offer clarification on the nature of the lawsuit and D.G. Jewelry's position. D.G. Jewelry Inc. believes that the lawsuit has no merit. The Haymarket action (filed in December of 1999 in the Supreme Court for the State of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , County of New York) seeks to recover for an alleged breach of a common stock purchase agreement. Haymarket has contended that it is owed additional shares of D.G. Jewelry stock under that agreement as well as liquidated damages Monetary compensation for a loss, detriment, or injury to a person or a person's rights or property, awarded by a court judgment or by a contract stipulation regarding breach of contract. . D.G. Jewelry does not believe that it is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to provide Haymarket with any additional compensation. D.G. Jewelry believes that Haymarket's own misconduct bars it from collecting any damages from D.G. Jewelry. D.G. Jewelry is weighing all of its legal options and is considering filing counterclaims or a separate cause of action against Haymarket based on illegal and unethical conduct Behavior that falls below or violates the professional standards in a particular field. In law, this can include Attorney Misconduct or ethics violations. The standards for conduct to be observed by attorneys can be found in the Code of Professional Responsibility; members of that D.G. Jewelry believes to have been engaged in by Haymarket and/or related companies. It is the opinion of both D.G. Jewelry's auditors and its securities counsel that the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. has been adequately disclosed and accounted for in all of its public filings. D.G. Jewelry Inc. is primarily engaged in the design, merchandising and distribution of stone-set jewelry for major retailers including department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , mass merchants, shopping networks, major high-volume retailers and other major discounters in the U.S., Canada and Europe. For more information, please visit us at www.dgjewelry.com Except for the historical information contained herein, the matters discussed in this release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including but not limited to, risks in product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, release and sales of new products, other risk factors detailed in the company's most recent annual report and filings with the Securities and Exchange Commission. |
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