Modern Records' president default judgment voided
Modern Records Inc MZR
Shares issued 19,680,000 Jul 19 close $1.02
Tue 20 Jul 99 News Release
Mr. Johan Grandin reports
A court in New Jersey ruled on July 15, 1999, that the default judgment
against Randy Jackson has been voided and vacated. Effectively, this means
that Mr. Jackson is exonerated from any financial obligation to the
plaintiff, HVV Corp.
The ruling in New Jersey was in favour of Mr. Jackson, president and chief
executive officer of Modern Records Inc. The New Jersey judge voided and
vacated the default judgment against Mr. Jackson that was issued against
him in 1996. The suit has been continuing ever since that time and has been
quoted in the media around the world on many occasions, and, more
noticeably, to Modern Records shareholders in the last couple of months.
For more details about the suit, Modern Records refer to a live interview
from June 22, 1999, with Randy Jackson on http://avnewswire/mdnr.
Mr. Jackson says, "It has been tough to deal with this situation and I am
pleased to have it all behind me. Now, I can focus more on the exciting
issues at hand with Modern Records." |
