Lawsuit Filed against Retrospettiva, Inc.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- On October 11, 2006, Pelican Cove Investments, Inc., a Minnesota corporation, filed a complaint against Retrospettiva, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :RTRO), a California corporation. In an apparent attempt to take control of the corporation, Pelican Cove Investments, Inc. is seeking: (1) appointment of a receiver; (2) declaratory relief declaratory relief n. a judge's determination (called a "declaratory judgment") of the parties' rights under a contract or a statute often requested (prayed) for information in a lawsuit over a contract. for revivor and appointment of a board of directors; (3) an accounting; and (4) inspection of books and records. The matter is currently pending in the Superior Court of California for the County of Los Angeles. Pelican Cove Investments, Inc. is purportedly pur·port·ed adj. Assumed to be such; supposed: the purported author of the story. pur·port a shareholder in Retrospettiva, Inc. Retrospettiva believes that these claims are without merit and intends to vigorously defend itself. About Retrospettiva, Inc. Retrospettiva, Inc. was based in Los Angeles, California, with manufacturing facilities in Macedonia. The corporation focused primarily on the manufacture of textiles such as women's clothing, sportswear, and other similar items. Retrospettiva's manufacturing facilities were destroyed in 2001 due to bombing that occurred during the conflict in the Balkans. The corporation has been inactive in·ac·tive adj. 1. Not active or tending to be active. 2. a. Not functioning or operating; out of use: inactive machinery. b. since May 2002 and was suspended by the California Secretary of State in August 2004 for failing to satisfy Franchise Tax Board obligations. This press 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. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the corporation's belief that Pelican Cove Investments' claims are without merit and Retrospettiva's intent to vigorously defend itself. Because 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. is inherently uncertain, Retrospettiva cannot predict the outcome of its litigation with Pelican Cove Investments. Actual results may differ materially from those described in or implied by any forward-looking statement. All forward-looking statements speak only as of the date made, and we undertake no obligation to update these forward-looking statements. |
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