STOP SELLING, IT'S A SET-UP
Subj: Packaging Plus To Fight Additional Suit By Some...
Date: 98-02-04 11:59:41 EST
From: AOL News
BCC: SteevKC
Packaging Plus To Fight Additional Suit By Some Convertible Debenture Holders And Will Aid In Prosecution Of Their Agents
PLAINVIEW, N.Y., Feb. 4 /PRNewswire/ -- Packaging Plus Services, Inc. (OTC Bulletin Board: PKGP) announced today that it will vigorously fight the additional suit by some "offshore" convertible debenture holders, misrepresented today as a "Company Press Release."
"These suits are merely further attempts by these convertible debenture holders to threaten the Company into covering their illegal shorting of the Company's shares," said General Counsel, Chris G. Gunderson, Jr.
"PKGP is a very sound company financially, which has just announced the signing of a contract to purchase Vallerie's Transportation Services, Inc., a $30 million company," said Mr. Gunderson.
"The press release issued against us today was clearly fostered by Mr. Ron Williams and Mr. Walter Kolker of Select Capital, which arranged for the "offshore" convertible debentures for the Company. The person issuing the press release is the daughter of Mr. Kolker. Select Capital and these individuals act as agents for the "offshore" convertible debenture holders," Mr. Gunderson added.
Mr. Williams and Mr. Kolker are currently being prosecuted by the State of Florida for Fraud, Grand Theft and Racketeering. The State of Florida has requested PKGP's cooperation in this prosecution and it is anticipated that Mr. Altomare, the Chairman of PKGP, may be asked to testify by the State of Florida in the criminal trial scheduled for April 13, 1998. PKGP and Mr. Altomare have volunteered to assist the State of Florida in its prosecution of these individuals.
SOURCE Packaging Plus Services, Inc.
CO: Packaging Plus Services, Inc.; Select Capital |
