U.S. Global Investors Wins Appeal.SAN ANTONIO--(BUSINESS WIRE)--Nov. 24, 1997--U.S. Global (formerly United Services Advisors, Inc.) is pleased to announce that the Fourth Court of Appeals in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , issued its opinion on November 12, 1997, in the case of United Services Advisors, Inc., appellant, v. Gerald C. Letch, Jr., appellee A party who has won a judgment in a lawsuit or favorable findings in an administrative proceeding, which judgment or findings the losing party, the appellant, seeks to have a higher court reverse or set aside. , which reversed the trial court's finding against the company. Frank E. Holmes, Chief Executive Officer, of U.S. Global stated that the court's decision is consistent with the position the company asserted throughout the 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. . It was an unusual case in which Mr. Letch alleged that a deceased company officer, in a private meeting prior to his death, promised Mr. Letch compensation for a third party Mr. Letch had never met. The alleged promise was not reported to the company until months after the officer's death. "It is unfortunate that a company like U.S. Global had to consume enormous financial and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. defending this case where the established rule of law should have been clear to opposing counsel," Frank E. Holmes further stated. When the Court's order becomes final, U.S. Global will be able to use over $350,000 currently set aside as restricted cash to cover the trial court's judgment and eliminate the related liability. U.S. Global Investors, Inc. is a public company, and its stock 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. (symbol GROW). U.S. Global and its subsidiaries manage and administer approximately $1.5 billion in mutual fund and trust assets. Additional information on the company can be obtained from the web site (http://www.us-global.com) or by calling 800-US-FUNDS 800/873-8637). CONTACT: U.S. Global Investors Inc., San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. Frank Holmes, 210/308-1234 or Susan B. McGee, 210/308-1234 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion