Universal Express Sues Capitalliance Financial Services LLC, Union Commercial LLC and Others for $269 Million for Fraud, False Documents and Misrepresentation.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Universal Express Inc.'s (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : USXP), General Counsel, Chris Gunderson announced that the Company has filed a $269 million lawsuit against Capitalliance Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Union Commercial LLC, Mel Derutledge and numerous other corporate and individual defendants, for fraud, false documents and misrepresentation misrepresentation In law, any false or misleading expression of fact, usually with the intent to deceive or defraud. It most commonly occurs in insurance and real-estate contracts. False advertising may also constitute misrepresentation. , in connection with various schemes against Universal Express, its subsidiaries and others. "These defendants have engaged in a long term pattern of fraud, false documents and misrepresentation to obtain monies and stock from Universal Express and other businesses through various investment schemes and insurance related scams", stated Mr. Gunderson. "Universal Express has always been diligent in pursuing malefactors, private or governmental, who damage or attempt to damage our businesses or hard-working American businesses", continued Mr. Gunderson. "We have been singularly successful in the past in pursuing our remedies. For example, Universal Express was successful in obtaining two separate state jury verdicts in Dade County, Florida against defrauders and 'naked shorters' totaling $389 Million and $137 Million, respectively, including 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. ", noted Mr. Gunderson. "These judgments, along with post-judgment interest, now total in excess of $700 Million. Let me assure our stockholders that our collection efforts in this regard are in high-gear and despite the time gone by, we remain more optimistic than ever regarding their collectability", concluded Mr. Gunderson. Any questions concerning this new court action on behalf of Universal Express may be directed to Mr. Gunderson at the Company's New York headquarters in Rockefeller Center at his e-mail cgunderson@usxp.com. About Universal Express Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com. 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. 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, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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