Re: 7/18/00 - Talk Visual Exec Wins $1-Million Judgment vs. Basher
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Talk Visual Exec Wins $1-Million Judgment vs. Basher
By Jack Burney
Published by OTCNN.com
07/18/2000 07:53 AM CST
He tagged himself "Pugs" or sometime "Spider Valdez" and he bashed DCI Telecommunications, now trading on the Pink Sheets, even setting up his own chat line on Silicon Investor to bash some more.
But he went too far, a court ruled, when he bashed Michael J. Zwebner, chairman of Talk Visual Corporation (OTCBB: TVCP), with false and defamatory statements about shorting DCI stock.
Zwebner sued and won a $1-million settlement, and a public confession, from Defendant (and Basher) Gary Dobry in the Civil Action No. 98-CV-682-M in the Federal District Court of New Hampshire. The settlement included Co-Defendant David Shepard (alias "Rico Staris").
"I am pleased that this litigation is over," said Zwebner. "I feel vindicated in as much that these posters have come clean and have admitted their false and libelous actions. My family, and my business associates, as well as myself are relieved that all these false, malicious and libelous statements have been exposed for what they are."
"The closure of this case, as well as the action taken by the Securities and Exchange Commission against DCI, Joseph Murphy, and others," Zwebner said, "is a very clear, loud and emphatic statement. It confirms to the public at large the real true facts, the truth, as I have always claimed it to be."
Talk Visual was known as Legacy Software, Inc. in the period between September and December 1998, when the bashers were at work.
In the court mandated statement, Dobry said "I made accusations against Michael Zwebner including false and defamatory statements in relation to his association with DCI and his alleged shorting of DCI stock and his bankruptcy. I now totally and absolutely apologize to Michael Zwebner and his Family for all the pain and suffering and public humiliation I caused him."
Dobry said he was "wholly misled by third parties in the dissemination of this false information. "I came to understand that the promoters and directors of DCI falsely claimed that the continuing fall in the DCI stock price was a result of Michael Zwebner's supposed short selling," he said. "To my embarrassment, I later learned that was untrue."
The judgment stands, but a vindicated Zwebner has agreed not to enforce it as long as Dobry does not attack his or his businesses further.
Talk Visual business is going very well. (See the story elsewhere in OTC News Network today.)
Talk Visual says it is a pioneer in the video teleconferencing industry, developing global retail facilities to accommodate the growing video-communications needs of two key both businesses and expatriate ethnic populations.
Stock Action Summary
Price as of 7/17/00: $ 0.66 DN $0.07
Volume: 864,200
P/E: N/A
52-wk range: $0.06 - $4.00
Shares Outstanding: 43,878,000
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