Hartcourt Receives Favorable Legal Ruling; Hogue Case Reversed by Florida Courts
LOS ANGELES, June 10 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: 900009), ( www.hartcourt.com ), announced today that on June 7, 2002, the Fifth District Court of Appeal of the State of Florida reversed in its entirety the default judgment which Charles Hogue had obtained early last year. The company would like to thank its Florida appellate attorneys, David Popper and Timothy Bench, and its California counsel, John Furutani, for the outstanding work performed on the appeal as well as the rewarding and proper result.
The company and its attorneys have believed throughout this litigation that the amount of the default judgment was unjust and not based on fact, law or common sense. The Appellate Court's ruling confirms the company's belief.
About Hartcourt
The Hartcourt Companies is a holding and development enterprise that has built a broad network of Internet, media, and telecommunication companies in Greater China. In partnership with leading Chinese entrepreneurs and government-sponsored entities, Hartcourt is developing and investing in emerging technologies while building an integrated commercial framework for its subsidiaries and their partners. Hartcourt's operative business strategy is designed to facilitate a series of venture divestitures via IPO or public merger to fully realize the value of these assets for its investors. Detailed information on Hartcourt can be obtained via the company's Web site: www.hartcourt.com .
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.
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SOURCE The Hartcourt Companies, Inc.
CO: Hartcourt Companies, Inc.
ST: California, Florida, China
SU: LAW
prnewswire.com
06/10/2002 01:00 EDT |
