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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (80325)	2/16/2001 8:44:59 AM
From: Patricia Meaney	Read Replies (1) \| Respond to of 150070

Keep your eyes on NPNTQ today. This news released last night: NorthPoint Communications $1 Billion Suit Against Verizon To Be Tried in San Fra /FROM PR NEWSWIRE WASHINGTON DC 202-347-5155/ TO BUSINESS, LEGAL AND TECHNOLOGY EDITORS: NorthPoint Communications $1 Billion Suit Against Verizon To Be Tried in San Francisco Court EMERYVILLE, Calif., Feb. 15 /PRNewswire/ -- In response to a number of motions presented in U.S. Bankruptcy Court for the Northern District of California in San Francisco, Judge Thomas Carlson ruled today that NorthPoint Communications' lawsuit against Verizon, which seeks damages for fraud, breach of contract and related claims before a jury, be permitted to proceed in the Superior Court of the State of California in San Francisco. This decision clears the path for speedy discovery and trial. NorthPoint filed its suit on Dec. 8, 2000 in San Francisco against Verizon in response to Verizon's attempt to terminate its agreement to merge the two companies' DSL businesses. The action seeks a trial by jury and damages of more than $1 billion. It also seeks immediate injunctive relief and specific enforcement of Verizon's continuing obligations under the binding merger agreement executed between NorthPoint Communications and Verizon on Aug. 7, 2000. "Verizon took its best shot to deprive us of a jury trial in San Francisco and lost," said NorthPoint Communications President and CEO Liz Fetter. "Now it is clear that NorthPoint will have its day in Court before a San Francisco jury on Verizon's wrongful termination. We remain confident that we have a strong case and plan to aggressively pursue it until we are compensated." ABOUT NORTHPOINT COMMUNICATIONS NorthPoint Communications Group, Inc. is one of the leading DSL service providers in the U.S. The company currently operates DSL-based local networks in 109 U.S. metropolitan statistical areas (MSAs). For additional information, visit northpoint.net . Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical facts may be deemed to contain forward-looking statements. Such statements are indicated by words or phrases such as "anticipate," "estimate," "projects," "believes," "intends," "expects" and similar words and phrases. Actual results may differ materially from those expressed or implied in any forward-looking statement as a result of certain risks and uncertainties. Some of these risks and uncertainties include, without limitation: NorthPoint's ability to raise additional capital, NorthPoint's dependence on strategic third parties to market and resell its services, intense competition for NorthPoint's service offerings, dependence on growth in demand for DSL-based services and other economic, business, competitive and/or regulatory risks and uncertainties detailed in the company's Securities and Exchange Commission filings. Prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any of the forward-looking statements contained herein to reflect future events or developments. SOURCE NorthPoint Communications Group, Inc. /CONTACT: Media: Marvin Wamble, 510-450-7432, or email:mwamble@northpoint.net; or Investors: Terry McGovern, 510-450-7322, or email:tmcgovern@northpoint.net; both of NorthPoint Communications/ /Web site: northpoint.net Feb-15-2001 23:58 GMT Symbols: US;NPNT Source PRN PR NewsWire Categories: NWR/CA NWI/TLS NWI/MLM NWI/ECM NWS/LAW NWS/TNM MST/R/US/CA MST/I/TEL MST/I/NET MST/S/LWS MST/S/MRG