Re: 12/7/00 - [NVEI] New Visual Entertainment, Inc. To Pursue Legal Action Against Internet Bashers
New Visual Entertainment, Inc. To Pursue Legal Action Against Internet Bashers
SAN DIEGO, Dec 7, 2000 (BUSINESS WIRE) -- Complaint To Be Filed In California State Court Seeks To Uncover Identity Of Parties Responsible For Posting Defamatory And Inaccurate Information On Financial Message Board
New Visual Entertainment, Inc. (OTCBB: NVEI chart, msgs), a pioneer in the development of proprietary transmission technology focused on delivering the ultimate "last mile" solution, today announced its intent to file a complaint this week with the California Superior Court in San Diego for defamation against 50 John Doe Internet bashers posting on a popular message board featuring the Company's stock. In association with the law firm of Arter & Hadden LLP, New Visual expects to act decisively to uncover the identity of those responsible for posting abusive, inaccurate and defamatory messages about the Company.
Ray Willenberg, Jr., Chief Executive Officer of New Visual, stated, "New Visual and its shareholders have been harmed by these defamatory and irresponsible messages. We intend to take all necessary steps, including this legal action, to protect the Company and recover the Company's damages. We've been contacted by numerous shareholders who have expressed concern over misinformation that has been disseminated in the marketplace about the Company, and we take this concern very seriously. We will do whatever is necessary to ensure that a balanced, truthful, and responsible presentation of the New Visual investment and business opportunity is available to those seeking comments and information from the financial message boards."
About New Visual Entertainment, Inc.
New Visual is pioneering the development of a proprietary broadband transmission technology with the mission to utilize existing copper telecommunications infrastructure to deliver high data content to the home or office at VDSL (52Mbps) data transfer rates. Through its New Wheel Technology, Inc. subsidiary, New Visual is developing this technology, which would allow the bundling of voice, video and data over existing copper telephone wires, eliminating the need for fiber optic cable to the home or office. Its initial development efforts are focusing on "Very High rate Digital Subscriber Line" (VDSL), and have demonstrated results exceeding industry standards. New Visual's common stock is traded on the Over-The-Counter Bulletin Board under the symbol NVEI.
With the exception of historical information contained in this release, this release includes forward-looking statements made under the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: product development difficulties; market demand and acceptance of products; the impact of changing economic conditions; business conditions in the internet, computer, and telecommunications industries; reliance on third parties including potential suppliers, licensors and licensees; the impact of competitors and their products; risks concerning future technology; and other factors detailed in this release and in the Company's Securities and Exchange Commission filings.
Contact:
Continental Capital & Equity Corp., Longwood, Fla.
Dodi B. Handy, 407/682-2001
dodi@insidewallstreet.com
siliconinvestor.com |
