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TVCP
3 1/16
+0
delayed 20 mins - disclaimer
Tuesday April 20, 2:32 pm Eastern Time
Company Press Release
Talk Visual Corp Files Claims Totalling $30 Million in Lawsuit Against DCI Telecom Inc, Directors, Shareholders and Internet Information Provider Silicon Lines Inc.
CAMBRIDGE Mass.--(BUSINESS WIRE)--April 20, 1999--
(NASDAQ:TVCP - news)--
A company spokesman announced today that it has filed claims totalling $30 million in a law suit against DCI Telecommunications Inc, its officers and directors, as well as several of its shareholders and against Internet Information Provider Silicon Lines Inc. The lawsuit was filed in Los Angeles, CA.
The law suit alleges that during the period February 1998 through present, the defendants conspired jointly to libel, slander and falsely accuse the chairman of Talk Visual Corp, Michael J Zwebner of wrong doing. The defendants did so by posting accusatory messages on numerous 'threads' and web sites on the Internet. In addition, the company alleges that the defendants posted defamatory and libellous information on the Internet against the company, and set up a special thread to deliberately ridicule and harass the company as well as to interfere in its commercial activities.
Silicon Lines, a spokesman for the company further alleges, ''became an active and conspiring 'partner' when it started to edit posts and replies made by the company's attorney, and as such is as liable as the other instigators and co-conspirators''.
The full text of the lawsuit can be read by accessing the company's web site on WWW.TALKVISUAL.COM. The company is represented by a team of attorneys headed up by Mark Van Wagoner in Salt Lake City, UT, Adorno & Zeder in Miami FL, and Bingham Dana LLP of Boston MA.
SEPARATE DEVELOPMENT
In a separate development, the company also announced that it had filed a separate lawsuit against the previous chairlady of the company, Ariella Lehrer, in Los Angeles County CA, alleging misrepresentation, self dealing, fraud and other illegal activities. Lehrer resigned from the company (fka LEGACY SOFTWARE INC) last September when the company announced a reverse merger acquisition of Videocall International Corp.
The company also recently announced the signing of a letter of intent to acquire 100% of the outstanding stock of Proximity Inc, (see announcement -- March 23, 1999 - Talk Visual Corp to Acquire Proximity Inc. for $4.2 Million in Stock and Cash) one of the leading United States providers of global videoconferencing services with over 2,000 sites worldwide. Full and further details are available on the Proximity website at www.proximity.com
In addition, the company has entered into commercial agreements with both Cable & Wireless, and Telia Swedtel of Sweden to carry its Video calling traffic over their IP Backbone network around the world.
The company continues to build an international network of Videocalling retail locations, with some 20 flagship stores now nearing completion. Talk Visual is in the process of building out the first twenty flagship locations which include city sites in Miami FL, Boston MA, Kingston Jamaica, Sacramento CA, Toronto (Canada), Montreal (Canada), London UK, and Tel Aviv Israel. The company expects to commence connecting calls during April 1999. The advent of this acquisition will now allow these flagship stores to immediately offer global access for Talk Visual customers everywhere.
The company's international website, on the Worldwide Web at www.talkvisual.com will soon allow for quick videocall reservations and connections at a very reasonable consumer-oriented cost structure. Advance reservations are available by calling Talk Visual Corporation toll-free at 1-877-22-VIDEO within the U.S.A., or 617 679-0300 from abroad.
Except for historical information contained herein, the statements in this release (including without limitation, statements indicating that the company ''expects,'' ''estimates,'' ''anticipates,'' or ''believes'' and all other statements concerning future financial results, product offerings or other events that have not yet occurred) are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Additional information on these and other factors are included in the company's Form 10-KSB for the Fiscal Year ended Dec. 31, 1998, as filed with the Securities and Exchange Commission.
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Contact:
Talk Visual Corporation
Noelle Galperin, (617) 679-0300
ngalperin@talkvisual.com
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