To: dino who wrote (5604 ) 9/15/1998 12:06:00 PM From: Dauntless Read Replies (2) | Respond to of 7041
OT, but related - Legal action promised against Asensio Just an update on our favorite analyst. Found this on the Turbodyne home page - bold face is mine. Looks like the pot is beginning to boil. ============================================================= September 14, 1998 - Press Release From Turbodyne's Home Page - Press Release 9/14 TURBODYNE'S SHAREHOLDERS PASS RESOLUTIONS Board Approves Legal Action Against Asensio & Company FOR IMMEDIATE RELEASE Woodland Hills, CA - September 14, 1998 -- Turbodyne Technologies Inc. (NASDAQ: TRBD, EASDAQ: TRBD), ("the Company"), reported today that both directors up for re-election, and the Company's 1998 Stock Incentive Plan, were approved by shareholders at the Company's annual meeting on Friday, September 11, 1998. Re-elected to Turbodyne's board of directors were Walter F. Ware, 55, Turbodyne's President & CEO and Robert Taylor, 58, former director and president of Shell Canada Products. Mr. Taylor retired from Shell in 1996. Both Mr. Ware and Mr. Taylor were re-elected to serve a three-year term. During the meeting, Turbodyne's chief litigation counsel announced, "The board of directors has instructed us to proceed vigorously with legal action against Asensio & Company and other parties that have disseminated and published false and misleading information about Turbodyne. Legal action will be filed in the United States under the provisions of applicable laws, as well as in Germany through Turbodyne's counsel in Frankfurt, on behalf of the corporation and stockholders as applicable." Further details about these actions will be announced, as they become available. Turbodyne Systems, the Engine Technology Division of Turbodyne, develops, manufactures, designs, and markets patented pollution -reduction, fuel economy and performance enhancing products for internal combustion engines in the automotive, transportation, construction, marine, agriculture, mining, military and power generation industries. Turbodyne's Light Metals Division is a manufacturer of machined aluminum castings and a leading supplier to the automotive industry. Offices and plants are located in Carpinteria, La Mirada, Encinitas and Woodland Hills, CA; Ensenada and Mexico City, Mexico; Vancouver, Canada; Northants, England; Paris, France and Frankfurt, Germany. Contacts: Meredith Lefforge, Media Relations, (800) 350-2031 Tom Laughran, The Investor Relations Company, (847) 564-5610