Universal Express - USXP - $389 Million Dollar Judgment Reported in the National Law Journal.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 9, 2001 Universal Express, Inc.'s (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :USXP) General Counsel, Chris Gunderson, indicated today that the $389 million dollar judgment in favor of the Company referred to in recent press releases has been reported in The National Law Journal, a prestigious national weekly newspaper for the legal community. The story may be found at http://www.nlj.com under the title "Verdict of the Week", "Debenture double-dealers hit with $389 million award", by staff reporter Margaret Cronin Fisk Fisk , James 1834-1872. American railroad financier and speculator who attempted in 1869 to corner the gold market with Jay Gould, leading to Black Friday, a day of nationwide financial panic. , published on August 8, 2001. As the article indicates, the verdict was $87.62 million in compensatory damages A sum of money awarded in a civil action by a court to indemnify a person for the particular loss, detriment, or injury suffered as a result of the unlawful conduct of another. , $26.29 million in interest and $275 million in punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. . Universal (USXP) operates several other subsidiaries in logistics (Luggage Express(TM)) and International shipping (WorldPost). Its association of private postal stores (PBC PBC 1 Peripheral blood cells 2 Primary biliary cirrhosis, see there ) provides various support services and numerous other programs to its members. Visit Universal Express and its subsidiaries on the web at http://www.usxp.com Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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