DCI Files Claims Seeking $45 Million in Lawsuit Against Michael Zwebner &Overseas Communications Ltd. for Breach of Contract
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DCI Files Claims Seeking $45 Million in Lawsuit Against Michael Zwebner &Overseas Communications Ltd. for Breach of Contract
STRATFORD, Conn., May 13 /PRNewswire/ -- DCI Telecommunications, Inc., (OTC Bulletin Board: DCTC) today announced that the company and Joseph J. Murphy, its President & CEO, have filed claims seeking $45 million in compensatory damages plus punitive damages against Michael Zwebner and Overseas Communications Limited in the United States District Court for the District of Connecticut.
The lawsuit alleges that Michael Zwebner (Zwebner) and Overseas Communications Limited breached a settlement agreement entered into between DCI Telecommunications, Inc. and Zwebner on or about May 1, 1998, and that various statements made by Zwebner about DCI and Murphy over a course of months, continuing to the present time, are defamatory and part of a malicious campaign to harm both DCI and Murphy.
Michael Zwebner is an individual citizen of the United Kingdom and Overseas Communications Limited is a British Virgin Islands corporation of which the defendant, Zwebner, is the managing director and on information and belief, the controlling shareholder.
The company is represented by Whitman Breed Abbott & Morgan in the Connecticut action. Firms representing DCI in other states include Los Angeles-based Parker, Milliken, Clark, O'Hara & Samuelian; Walther, Key, Margin, Oats, Cox and LeGay, in Nevada and Alfano & Baroff based in New Hampshire.
DCI Telecommunications is a global provider of telecommunications services, including long distance, prepaid phone cards and Internet services. It has an extensive distribution network throughout North America, Europe and the Far East. The Company owns and operates switching facilities in Canada, the United Kingdom, Spain and Denmark, with facilities planned for the United States in the near future. Additional information can be obtained directly from the company or its web site at dcic.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the new uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, unpredictability of patent protection, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.
SOURCE DCI Telecommunications, Inc.
CO: DCI Telecommunications, Inc.; Overseas Communications Limited
ST: Connecticut
IN: TLS
SU: LAW
05/13/99 18:36 EDT prnewswire.com |
