DG Systems Board of Directors Affirms Support for Chairman and CEO Scott Ginsburg.Business Editors DALLAS--(BUSINESS WIRE)--March 22, 2004 DG Systems, Inc. (Nasdaq: DGIT) today announced that its Board of Directors has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its support for Scott K. Ginsburg to continue to serve as Chairman of the Board of Directors and Chief Executive Officer after the March 19, 2004 decision of a three-judge panel of the Eleventh In music or music theory an eleventh is the note eleven scale degrees from the root of a chord and also the interval between the root and the eleventh. Since there are only seven degrees in a diatonic scale the eleventh degree is the same as the subdominant and the interval Circuit U.S. Court of Appeals that reversed the decision by the U.S. District Court for the Southern District of Florida on December 19, 2002. The Court of Appeals reinstated the jury verdict that Mr. Ginsburg had, in matters unrelated to the Company, violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3 thereunder, reinstated a $1 million civil penalty against Mr. Ginsburg and remanded the case to the District Court with instructions to enjoin To direct, require, command, or admonish. Enjoin connotes a degree of urgency, as when a court enjoins one party in a lawsuit by ordering the person to do, or refrain from doing, something to prevent permanent loss to the other party or parties. Mr. Ginsburg from violations of the federal securities laws and regulations. The Court of Appeals did not bar Mr. Ginsburg from serving as an officer or director of a public company. Despite the decision of the Court of Appeals, the Board of Directors continues to believe that the Company is well served by Mr. Ginsburg's continued service as Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . In December 2002, the stockholders of the Company also expressed their confidence in Mr. Ginsburg's continued service as Chairman, voting by an 85% margin of votes cast (excluding Mr. Ginsburg's shares) for Mr. Ginsburg to continue to serve as Chairman. The October 24, 2002 proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. for the stockholder vote disclosed that the Board's support for Mr. Ginsburg in 2002 assumed that the jury's verdict and the initial judgment of the District Court would stand or be affirmed, as is now the case. After giving due consideration to the factors set forth in the proxy statement, the Board of Directors reaffirms its decision of December 4, 2002 to request that Mr. Ginsburg continue to serve the Company in his capacity as Chairman. About DG Systems, Inc. DG Systems and the Company's StarGuide division provide the standard in Digital Media Exchange services for the advertising and broadcast industries, featuring dependable satellite and Internet transmission technology and a suite of digital media asset management tools. DG's extensive digital network is the largest in the advertising and broadcasting industries, reaching more than 5,000 advertisers and agencies and over 8,575 broadcast television, cable system and radio destinations with innovative delivery and management solutions for short- and long-form audio and video content. More information is available at www.dgsystems.com. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company, including the expansion of its digital distribution network, and the demand among certain clients for digital audio and video delivery services. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to DG Systems' business are set forth in the company's 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. filed with the Securities and Exchange Commission on March 12, 2004. |
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