Three press releases related to the Joseph Charles & Associates lawsuit:
JOSEPH CHARLES & ASSOCIATES FILES LAWSUIT AGAINST GLOBAL DATATEL
MONDAY, MAY 24 1999 12:09 AM EST
in Palm Beach County Circuit Court
BOCA RATON, Fla., May 24 /PRNewswire/ -- The following is being issued by Joseph Charles & Associates, Inc., a member of the National Association of Securities Dealers, CRD number 3949:
Joseph Charles & Associates has filed a lawsuit in the Palm Beach county circuit court against Global DataTel, Inc. (OTC Bulletin Board: GDIS), its transfer agent, Signature Transfer, Inc., the president of the corporation, Richard Baker and a Bahamian corporation, SevenOaks Holdings, Limited. The complaint alleges that in late March, 1999, SevenOaks opened an account at Joseph Charles with 396,475 shares of GDIS. Joseph Charles had not previously traded in any shares of GDIS. The complaint states that Joseph Charles forwarded the shares to its clearing firm for confirmation of validation and transferability, which confirmation was received.
Furthermore, one month following the original confirmation, on May 6, 1999, Signature Transfer informed Joseph Charles' clearing firm that the certificates representing the 396,475 shares of GDIS are invalid and had been fraudulently or improperly issued. Since that time Joseph Charles has been diligently attempting to rectify the situation and seek remedial relief. However, to date GDIS has refused to provide Joseph Charles with valid certificates, has refused to provide an explanation as to the course of conduct and has otherwise been uncooperative and unsupportive. Joseph Charles may suffer substantial injury as a result of the invalidation of the stock certificates.
These events have caused Joseph Charles to begin to conduct an investigation on GDIS, including its financial, sales and revenue claims. Joseph Charles is extremely concerned about the integrity of the market place and the protection of its investors. As of this date, Joseph Charles has been unable to verify any of the financial, sales or revenue claims, although it is continuing all efforts to do so. Joseph Charles has requested the assistance from and has contacted all industry regulatory agencies and other authorities regarding this matter.
Information and statements contained herein, other than historical information, should be considered forward-looking, which involve risk and uncertainties. Joseph Charles & Assoc., Inc., its officers, directors and affiliates may maintain positions in the securities referenced which may change at any time without notice. The securities referenced are speculative in nature and may not be suitable for your investment objective.
SOURCE Joseph Charles & Associates, Inc.
05/24/99 /CONTACT: John Busacca, Director of Compliance, Joseph Charles & Assoc., Inc., 561-391-9090/
CO: Joseph Charles & Associates, Inc.; Global DataTel, Inc. ST:
Florida IN: FIN SU: LAW
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Global DataTel Vows to Protect Shareholder Interests
MONDAY, MAY 24 1999 6:10 PM EST
DELRAY BEACH, FLA. (May 24) BUSINESS WIRE -May 24, 1999--
Company Responds to Tactics of Joseph Charles Associates
Global DataTel Inc. (OTCBB:GDIS) announced today that it has recently been in contact with the U.S. Securities & Exchange Commission concerning the activities of Joseph Charles & Associates Inc., a Boca-Raton based brokerage firm, with regard to Global DataTel.
The company is taking action to protect the rights of its shareholders, following a week-long assault on Global DataTel by Joseph Charles via posts made on the Internet. Today, Joseph Charles, through a publicity news service, issued a release indicating that Joseph Charles had brought a suit against Global DataTel, yet conspicuously failed to disclose that its initial request for relief has already been denied by the Court.
"Joseph Charles & Associates Inc., has, through a variety of e-mails and posts on the internet, maliciously slandered Global DataTel with the intent to drive the company's stock price down," stated Richard Baker, President and Chief Executive Officer of Global DataTel. "In the appropriate forum, we will demonstrate that Joseph Charles was alerted by our attorneys in March, 1999, that a stock certificate for the same number of shares mentioned in Joseph Charles' press release had been stopped and that our attorneys have a signed receipt to acknowledge that this notification was indeed received by Joseph Charles. Joseph Charles disregarded this notice and sold shares, without adequate inquiry, creating a short position in the Company's stock which they desperately need to cover.
"Today's press release is the most recent example of Joseph Charles' campaign to drive down Global DataTel's share price. We will not allow our shareholders to be hurt by the unsubstantiated innuendo and scare tactics practiced by these people, and we intend to vigorously defend our shareholders' rights in this matter," Baker said.
Global DataTel (www.globaldatatel.com) is a first tier IBM Business Partner and the Latin American leader in medium to large system integration projects. Global also partners with Compaq, Dell, Hewlett-Packard and Cisco, and is a Microsoft Certified Solution provider, Lotus Premier Team Provider and is a distributor of JBA International E.R.P. company.
Its wholly-owned subsidiary, eHOLA.com Online Service Network (www.ehola.com), is the first integrated Internet access service and Spanish language content portal available to Spanish-speaking individuals in North, Central and South America. The network provides consumer and business dial-up and dedicated internet access to 300 cities throughout 13 countries, and is available to 85 percent of the "wired" population in the U.S., Mexico, Argentina, Brazil, Colombia, Chile, Venezuela, Peru, Ecuador, Guatemala, El Salvador, Costa Rica and Panama. With more than 220 local POP's and monthly subscriptions as low as $9 per month, the eHOLA.com network offers a unique entry point for the more than 35 million new Latin American users expected to be online by 2001. eHOLA.com is the first Spanish internet portal providing its own content, as well as access to the internet, offering subscribers the capability of dialing into a local access number without a roaming charge, whether in North, Central or South America. In addition, eHOLA has formed radioeHOLA, a comprehensive addition to the portal with more than 40 Spanish/Portuguese radio stations online. During the past month, the site has registered approximately 300,000 "hits" daily.
Questions regarding this matter may be addressed to Global DataTel attorneys: Jerome M. Selvers, Esq. Sonnenblick, Parker & Selvers, P.C. Freehold Executive Center 4400 Route 9 South PO Box 765 Freehold, N.J. 07723 732-431-1234
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward-looking statements involve the known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from what is anticipated.
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CONTACT: Martin E. Janis & Company, Chicago
Bev Jedynak, 312/943-1100 KEYWORD: FLORIDA
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET
COMPUTERS/ELECTRONICS COMED Today's News On The Net - Business Wire's full file on the Internet
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Joseph Charles and Global DataTel Make Joint Announcement
TUESDAY, JUNE 1 1999 4:56 PM EST
BOCA RATON/DELRAY BEACH, FLA. (June 1) BUSINESS WIRE -June 1, 1999-- Joseph Charles & Associates, Inc. and Global DataTel, Inc. (OTCBB: GDIS) jointly announced today that Joseph Charles & Associates has dismissed its lawsuit against Global DataTel, Signature Stock Transfer and Richard Baker, President and Chief Executive Officer of Global DataTel.
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CONTACT: Martin E. Janis & Company Inc., Chicago
Bev Jedynak, 312/943-1100 KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
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