Universal Express Requests Hearing With SEC in Florida
Wednesday March 24, 2:51 pm ET
NEW YORK, March 24 /PRNewswire-FirstCall/ -- Universal Express, Inc. (OTC Bulletin Board: USXP - News), today requested that the long-sought hearing and lawsuit with the agency empowered to protect thousands of companies from naked short-selling, stand before a Florida judge.
"I welcome the hearing that is long overdue. Ever since USXP received $590,000,000 of 'short-selling' judgments that demonstrated inefficiency on the part of the SEC, they have retaliated against our Company, which has grown to over $200,000,000 in sales from no revenues and $54,000,000 in debt paid- off," stated, Richard A. Altomare, President & CEO of Universal Express.
Mr. Altomare continued, "At a time when America is prioritizing jobs, this fine Company has grown to over 6,500 employees from only 3 -- and that's the Company our appointed regulators have decided to question. This one they will lose. They owe the stockholders of USXP $590,000,000 -- they know it, and a jury trial will prove it.
"There has been nothing but integrity and hard-working American efforts with complete compliance on the part of this Company during our 14 years of development, with never a question from the SEC for 14 years.
"As Al Capone infiltrated the Chicago Police Department, I contend that the organized crime efforts of naked short sellers are not above influencing SEC lower-paid employees. Should Universal Express experience any financial damages from bureaucrats gone awry, our proactive lawsuit, which we filed on March 2, will seek additional damages.
"If the SEC wishes to intimidate, eliminate or frighten companies that are the core of America's future capitalist system, they picked the wrong company, wrong CEO and wrong issue to think we'll blink.
"Let's stay focused on the message of our President and the Democratic nominee, jobs, corporate governance and integrity. This lawsuit is designed to shed light on the integrity of the foxes that have been empowered to guard the hen house. Not the hens being bullied by the foxes!
"When someone or some company is sued by the Security Exchange Commission, there is always a concern, I understand that. I grew up in the same America that believes in the integrity of our institutions. After years of SEC governmental abuse, we called for the judicial branch of our government to protect our 38,000 shareholders, our employees, investors and all other small public businesses from the naked short-selling scandal that remains the issue -- not some press releases and fundings that are perfectly accurate," concluded Mr. Altomare.
About Universal Express
Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital Corp. (USXP Cash Express & Leasing Division), Universal Express Logistics (Luggage Express and the Virtual Bellhop, the Universal Post Network -- private postal network, and SCI, our industry insurance company. These subsidiaries and divisions provide the private postal industry, customers, and couriers with value-added services and products, logistical services, equipment leasing, and cost-effective delivery of goods and luggage worldwide. For more information visit www.usxp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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Source: Universal Express, Inc.
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