Digital Creative Development Corporation Announces Settlement.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 22, 2002 Digital Creative Development Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DCDC DCDC Decision Center for a Desert City (Arizona State University, Tempe, AZ) DCDC Detailed Case Data Component DCDC Department of Communicable Disease Control (Thailand) ), today announced the amicable settlement of the arbitration proceeding commenced by its former 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. , Ralph J. Sorrentino. Martin R. Wade III, DCDC's President and Chief Executive Officer stated that, "The Company regrets the misunderstanding leading up to Mr. Sorrentino's departure from the Company and wishes him well in his future endeavors." Under the terms of the settlement, the Company has agreed to buy out Mr. Sorrentino's contract. About Digital Creative Development Corporation Digital Creative Development Corporation's strategy is to acquire and invest in entertainment content companies, with a focus on broadband content delivery, and to provide comprehensive services to a wide variety of entertainment and other related services and for general public consumption. The Company also operates the Arthur Treacher's and Pudgie's Famous Chicken restaurant chains as a subsidiary. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to the 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. provisions of 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. These statements involve risks and uncertainties, such as quarterly fluctuations in operating results, the timely availability of new products, financing risks, the impact of competitive products and pricing, and other risks detailed in filings with the Securities and Exchange Commission, including Digital Creative Development Corporation 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. for the fiscal year ended June 30, 2000. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made in this press release. |
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