Not sure this is even tangentially relevant but thought it might be of some interest. Besides that I just felt like making some f*cking noise.
Hope we hear something soon. Best. daaan
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Restaurant Teams International and Others Sued for Defamation
NEW YORK--(BUSINESS WIRE)--March 2, 1999--Sovereign Partners, L.P. and Dominion Capital Fund, Ltd. disclosed that they, together with Steve Hicks, have filed a defamation suit against Restaurant Teams International, Inc. (Nasdaq: RTIN) and its top executives in the U.S. District Court for the Southern District of New York. The defendants include Restaurant Teams' Chief Executive Officer, Stanley L. Swanson, its Chief Financial Officer, Curtis A. Swanson, and four code-named users of Internet bulletin boards.
The complaint alleges that Restaurant Teams, its officers and the Internet users made false and defamatory statements concerning the plaintiffs in, among other places, press releases and messages posted on the Internet. Those press releases and Internet postings accused Sovereign, Dominion and Hicks of scheming to depress the price of Restaurant Teams stock through unlawful short selling.
In fact, the complaint states, Sovereign and Dominion loaned an aggregate of $2,800,000 to Restaurant Teams by purchasing its convertible debentures. Thereafter, when the price of Restaurant Teams stock declined, the defendants blamed Sovereign, Dominion and Hicks. The complaint alleges that Restaurant Teams and its officers knew that Sovereign, Dominion and Hicks did not engage in any unlawful short selling but blamed them for the price decline nonetheless, in part to deflect criticism of the company's stock performance from management. Sovereign, Dominion and Hicks are prepared to pursue their legal rights as far as necessary to fully restore their good reputation.
The complaint seeks an aggregate of $9 million in damages from Restaurant Teams and its officers, and additional damages from the Internet users. The complaint also names as defendants ConSyGen, Inc. (Nasdaq: CSGI) and its Chief Executive Officer, Thomas A. Dreaper. ConSyGen previously disclosed the filing of the defamation claims against it in its own press release.
CONTACT:
The MWW Group
Robert Ferris, 201/507-9500
rferris@mww.com
KEYWORD: NEW YORK
BW1300 MAR 02,1999
6:56 PACIFIC
09:56 EASTERN |
