NanoPierce Technologies, Inc. Files Lawsuit Regarding Harvest Court LLC Financing.Business Editors/High-Tech Writers DENVER, USA--(BUSINESS WIRE)--April 29, 2001 (4:01 PM MDT MDT abbr. Mountain Daylight Time MDT (in the US and Canada) Mountain Daylight Time MDT n abbr (US) (= mountain daylight time) → ) NanoPierce Technologies, Inc. (NPCT NPCT Nonproliferation Controls and Treaty Compliance NPCT Nasal-Pharynx Cancerous Tissue :OTCBB OTCBB See OTC Bulletin Board (OTCBB). & NPI NPI National Provider Identifier, see there :Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. & Hamburg Stock Exchange) today announced that it filed 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. 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. in and for the District of Colorado, against Harvest Court, LLC, Southridge Capital Management LLC, Daniel Pickett, Patricia Singer, all of Ridgefield, Connecticut; and Thomson Kernaghan of Toronto, Canada. The lawsuit was filed, in order to protect the shareholders, for damages resulting from alleged stock manipulation, federal securities fraud, violations of the Colorado Securities Act, common law fraud, fraud in the inducement fraud in the inducement n. the use of deceit or trick to cause someone to act to his/her disadvantage, such as signing an agreement or deeding away real property. , conspiracy, and similar causes of action. The suit seeks unspecified actual and exemplary damages. The lawsuit was filed by the firm of O'Quinn & Laminack and Christian & Smith of Houston, Texas and Holme, Roberts & Owen of Denver Colorado. Lead counsel for NanoPierce is John O'Quinn of O'Quinn & Laminack. Mr. O'Quinn was the lead counsel for the State of Texas in the $16.5 Billion settlement against the tobacco industry and is rated as one of the top ten plaintiffs counsel in the United States. He has obtained verdicts and settlements exceeding $25 Billion in his career. Paul H. Metzinger, President and Chief Executive Officer said, "This litigation obviously means the company will issue no further reset shares." Mr. O'Quinn said, "We filed this lawsuit based upon an investigation of the financing and the principals and associates involved. Our client, and its shareholders, like many others, have been victimized and damaged by predatory financing schemes involving numerous market makers and others designed to enrich the financiers to the ruination of the companies financed. Our firm is committed to litigate this matter to a successful conclusion, regardless of the number of parties ultimately named, the time involved or the expenses we must incur or advance, for our clients". Gary M. Reibschlager of the firm said, "The damage done to the small companies and the people who work for them is outrageous. These arrogant, selfish financiers who use offshore devices and fraudulent schemes to enrich themselves at the expense of the people must stop. We will expose them and their "fat cat" buddies to the bright light of justice." NanoPierce Technologies, Inc. of Denver, Colorado, USA, is traded on the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB:NPCT) as well as on the Frankfurt and Hamburg (OTC:NPI). In addition to the 12 patents it owns, NanoPierce has numerous applications pending, others in preparation, and various other intellectual properties related to NanoPierce's proprietary NCS (NanoPierce Connection System). This advanced system is designed to provide significant improvement over conventional electrical and mechanical interconnection methods for high-density circuit boards, components, sockets, connectors, semiconductor packaging and electronic systems. For more information on NanoPierce Technologies, Inc. please visit this web site: www.nanopierce.com This announcement contains forward-looking statements about NanoPierce Technologies, Inc. that may involve risks and uncertainties. Important factors relating to the company's operations could cause actual results to differ materially from those in forward- looking statements and are further detailed in filings with the Securities and Exchange Commission available at the SEC website (http://www.sec.gov). All forward-looking statements are based on information available to NanoPierce Technologies, Inc. on the date hereof, and NanoPierce Technologies, Inc. assumes no obligation to update such statements. |
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