Fountain Powerboats, Mark Spencer and Michael Jordan Settle Lawsuit.WASHINGTON, N.C.--(BUSINESS WIRE)--June 25, 1998--Michael Jordan, Fountain Powerboats, Inc., Mark Spencer Mark Spencer (born April 8, 1977) is a computer engineer and is the original author of the GTK+-based instant messaging client Gaim (has since been renamed to Pidgin), the L2TP daemon l2tpd and the Cheops Network User Interface. and Spencer Communications jointly announced today that all 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. among those parties, which has been pending in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Eastern District of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , has been amicably resolved for an undisclosed amount paid to Jordan. A representative of Michael Jordan stated that "Michael is pleased that his representatives and those of Fountain and Spencer have reached a satisfactory resolution of this matter." A spokesman for Fountain stated "that the settlement will not have a material impact on Fountain's earnings or financial performance because the case settled within the limits of Fountain's insurance coverage." Fountain is a North Carolina-based boat manufacturer. Spencer Communications has served as the exclusive public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most agency firm for Fountain Powerboats. Jordan is the widely known basketball star for the Chicago Bulls.
CONTACT: Fountain Powerboat Industries, Inc.
Joe Schemenauer, Chief Financial Officer
919/975-2000
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