LECG Wins FCC Auction Contract.EMERYVILLE, Calif.--(BUSINESS WIRE)--Sept. 10, 1998--LECG, Inc., a wholly-owned subsidiary of The Metzler Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : METZ), was selected over several competing firms to assist the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. in the testing and implementation of software for the Commission's next set of spectrum auctions. The project will be a collaboration between the experimental economics research lab at the University of Arizona's Economic Science Laboratory (ESL (1) An earlier family of client/server development tools for Windows and OS/2 from Ardent Software (formerly VMARK). It was originally developed by Easel Corporation, which was acquired by VMARK. ), led by Professor Vernon Smith, and the LECG LECG Law and Economics Consulting Group LECG Laboratory of Ecological and Conservation Genetics auction practice led by LECG Principal David Salant. "The new combinatorial auctions A combinatorial auction is an auction in which bidders can place bids on combinations of items, or “packages,” rather than just individual items. Simple combinatorial auctions have been used for many years in estate auctions, where a common procedure is to auction the will allow bidding for spectrum licenses as useful groups, instead of single licenses that may be worthless alone," states Dr. Sam Dinkin, a Senior Economist at LECG. Dr. Dinkin was instrumental in putting together the winning proposal for the project and will be the project's day-to-day manager. Leading the LECG team is Dr. David Salant, one of the world's leading experts in spectrum auctions. He has assisted numerous firms in acquiring rights to leases for spectrum rights, oil leases, and other large assets in numerous multi-billion dollar auctions. He has worked extensively with the government agencies of such countries as Australia, Canada, Guatemala, Mexico, and Peru in designing mechanisms for regulatory restructuring and privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of spectrum and other resources. Also on the LECG team is Dr. Sam Dinkin, an expert in auction theory and implementation. He has led teams responsible for developing and implementing state-of-the-art auction software, including the LECG Auction Management Program (LAMP), which has been used in numerous countries. Drs. Dinkin and Salant joined LECG two years ago from Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Associates. The project's Primary Investigator will be Professor Vernon Smith, experimental economics pioneer and founder of ESL. Professor Smith has been building and testing new markets for over 25 years. ESL studies economic behavior, market performance, computer-based forms of exchange, and tests economic theories using experimental economics. Prof. Smith and ESL have conducted ground-breaking research in many areas including market design for natural gas, electricity, and water. LECG is an economic consulting services firm that provides access to knowledge resources and expert analysis for clients who require integrated business solutions. The Company's core of expertise is in the areas of antitrust, finance, damages analyses, environmental economics, industry deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. , and public policy. LECG is a wholly-owned subsidiary of The Metzler Group, a leading nationwide provider of consulting services to energy and network industries. The Metzler Group's stock trades on the Nasdaq National Market under the symbol METZ. Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as, "forward looking statements" for purposes of 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. provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. 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. may be identified by words including "anticipate," "believe," "intends," "estimates," "expect" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's future business prospects, revenues, working capital, liquidity, income, and acquisitions are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward looking statements, due to several important factors, including, among others, those identified from time to time in the Company's reports filed with the SEC. Such risk factors include, but are not limited to: acquisitions and acquisitions under consideration, significant client assignments, recruiting and new business solicitation efforts, regulatory changes and general economic conditions.
CONTACT: LECG, Inc., Emeryville
Kenneth A. Toren, 510/653-9800
or
The Metzler Group, Chicago
Joey Fabere, 312/573-5600
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