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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable.

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To: dwight martin who wrote (2012)6/9/1998 6:36:00 PM
From: MangoBoy  Read Replies (2) of 2063
 
[CellularVision USA Announces CFO Departure]

BROOKLYN, N.Y., June 9 /PRNewswire/ -- CellularVision USA announced today that their Chief Financial Officer, Charles Garber has left the Company to pursue other opportunities. Mr. Garber's responsibilities, which included CVUS Investor Relations activities, will be shared among CVUS CEO Shant Hovnanian, CVNY President and COO John Walber, and CVNY Controller Angela Vaccaro, while a suitable replacement is sought.

Upon his departure, Mr. Garber claimed the Company failed to comply with certain employment related obligations. CellularVision believes these claims are groundless, however the effect of such claims, if an adverse judgment is rendered, could have a material effect on operating results in the period in which it is resolved.
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