Re: 6/12/01 - [ECNC] Protective Action League Announces That Manatt Phelps & Phillips Will Represent eConnect In Defamation Proceedings Against Bloomberg Financial Press
Tuesday June 12, 8:30 am Eastern Time
Press Release
Protective Action League Announces That Manatt Phelps & Phillips Will Represent eConnect In Defamation Proceedings Against Bloomberg Financial Press.
INTERNET WIRE -- The Protective Action League, LLC (PAL), a new and growing advocacy and fairness group comprised of small public companies, announced today that PAL assisted eConnect (OTCBB:ECNC - news), a PAL founding member, in the retention of Manatt Phelps & Phillips, a leading international law firm, to confront defamatory stories about eConnect by David Evans which were recently printed by Bloomberg Financial Press.
The eConnect actions stem from the recent press release by First American Payment Systems, a Canadian company, regarding an order of 10,000 eCashPads. Mr. Evans quickly followed with a news story injurious to eConnect, full of misconstructions and distortions, including references to an unsolicited telephone conversation with Anthony Varvaro, President of FAPS. Later, after a PAL representative interviewed Mr. Varvaro at length and confirmed his conversation with Bloomberg had been misrepresented at best by Mr. Evans, PAL quickly contacted Manatt Phelps & Phillips to review the actions of Bloomberg Financial Press and Mr. Evans.
The parties currently have under active consideration a suit against David Evans, author of the offending articles, and Bloomberg for injurious falsehood and defamation. Extensive investigation, including any linkage with short selling, is planned.
PAL is a new organization that has been created to combat Internet bashers and others that target small public companies unfairly and sometimes anonymously. For information about joining, call William Haseltine at (202) 783 7600. Public companies only should respond.
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Contact:
William Haseltine
The Protective Action League
202-783-7600
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