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SHAREHOLDER FILES SUIT AGAINST SOUTHNET CORPORATION

 SHAREHOLDER FILES SUIT AGAINST SOUTHNET CORPORATION
 TAMPA, Fla., Aug. 24 /PRNewswire/ -- Southnet Corporation (OTC, PHLX: SN), a publicly traded company on the Philadelphia Stock Exchange, announced today that on Aug. 20, 1992, a shareholder of the Company's common and preferred stock filed two suits in Hillsborough County, Fla. against the Company and several officers and directors of the Company. Southnet Corporation is a national provider of long distance telecommunications and enhanced operator services to the hotel, hospital and pay telephone industries. The suits seek among other relief, a declaration that the company's acquisition of Telecom America, Inc., a Florida based long distance and operator services organization, has not been properly approved by the company's shareholders. The company believes these suits to be without merit and plans to respond appropriately after receiving advice of counsel.
 -0- 8/24/92
 /CONTACT: Robert J. Zradicka of Southnet Corporation, 813-287-2880, or Ron Morris of Telecom America, Inc., 407-994-1090/
 (SN) CO: Southnet Corporation: Telecom America, Inc. ST: Florida IN: TLS SU:


SB -- AT010 -- 2678 08/24/92 15:38 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
Words:175
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