Printer Friendly

GO-VIDEO SHAREHOLDER SUIT DISMISSED BY FEDERAL COURT

 SCOTTSDALE, Ariz., Aug. 30 /PRNewswire/ -- GO-VIDEO Inc. (AMEX: VCR), a leading U.S. video technology company and patent holder of America's only Dual-Deck(TM) VCR, today anounced that a shareholder suit filed against the company on May 6, 1992, has been dismissed by the U.S. Federal District Court in Phoenix.
 Responding to the suit in a 22-page opinion, the court ruled, "the plaintiff shall take nothing and the complaint and action are hereby dismissed."
 Senior management of the company emphasized that "the lawsuit lacked any factual basis whatsoever."
 R. Terren Dunlap, chairman and chief executive officer, said, "While the lawsuit has been pending for over a year, it did not divert the company from experiencing the best results in its history. In the past six months, we have been successful in introducing our new line of Dual- Deck VCRs which has allowed the company to effectively expand its market penetration and position the Dual-Deck VCR as a completely new product category in the consumer electronics industry."
 In July of this year, GO-VIDEO delivered its 100,000th unit to the marketplace.
 GO-VIDEO Inc. is the designer, patent-holder and marketer of the only Dual-Deck(TM) VCR sold in the United States and the only videocassette recorder that easily can copy any video tape. The GO- VIDEO Dual-Deck VCR is sold through prominent retail outlets nationwide and is featured in numerous popular catalogs. A leader in VCR technology, GO-VIDEO, through continuous research, has recently added innovative features, developed creative companion products and expanded its product line to serve the needs of a broader range of retail consumers.
 -0- 8/30/93
 /CONTACT: R. Terren Dunlap, CEO of GO-VIDEO, 602-998-3400/
 (VCR)


CO: GO-VIDEO Inc. ST: Arizona IN: ENT SU:

JB-EH -- LA010 -- 7055 08/30/93 11:29 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 30, 1993
Words:295
Previous Article:JULY MUTUAL FUND SALES TOTAL $43.8 BILLION
Next Article:COMPUTALOG LTD. APPOINTS NEW PRESIDENT AND CEO
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters