Prime Star Group & Subsidiaries Prevail in $33.9 Million Lawsuit Claim
09 Novembro 2010 - 11:00AM
Marketwired
Prime Star Group, Inc. (PINKSHEETS: PSGI) is pleased to announce
that the $33.9 Million Dollar lawsuit claim that was pending
against them in Federal District court of the Northern District of
Indiana filed by Michiana Dairy Processors has been dismissed. The
Court granted PSGI Motion for Summary Judgment, dismissing all
claims against PSGI and all other Defendants.
Roger Mohlman, Prime Star CEO, stated, "We have won a complete
summary judgment. This victory will take an enormous burden off of
our company and will allow us to resume our business without the
distraction and huge legal expenses incurred. With the years of
litigation and the rumors and innuendo surrounding this lawsuit now
behind us, it is great to be finally and completely vindicated.
Removing this $33.9 million contingent liability is another huge
step forward for Prime Star and its shareholders. We are so happy
to have this meritless case behind us so we can now fully
concentrate on utilizing all our time and energy into the growth of
the company."
"We are extremely proud of the work that Lyle Hardman of Hunt,
Suedhoff and Kalamaros (www.hsk-law.com) did in helping us to get
this lawsuit dismissed. He clearly and concisely stated the facts
of the case and the law, which led to the court ruling in our
favor. Lyle is an outstanding attorney and we cannot thank him
enough. He, Jennifer Worth, Tom Hamilton and Ivan Schwartz took the
time to really learn the background and the issues of the claims
against us and then used the relevant law to show these claims to
be unfounded," Mohlman said.
"This case had languished in state court for over five years.
Hunt, Suedhoff and Kalamaros came on board in March 2010 and took
over the bulk of the case. Prime Star Group, and the other
defendants were the prevailing parties on summary judgment, and all
that is left pending is PSGI's claim for attorney's fees and a
pending motion for sanctions against opposing counsel," said
Mohlman.
About Prime Star Group
Prime Star Group, Inc. is a holding company that focuses on
three areas of business: SmartPax™ Packaging, Premium Food &
Beverage Products and Distribution. The company's operating
subsidiaries produce, market, and distribute wines, tea, adult
mixed beverages, flavored water, and gourmet seafood products. The
company also produces co-brand and co-pack existing high-end
beverages and private label liquors for large hospitality and
entertainment brands. Prime Star is focused on the food and
beverage, entertainment, hospitality, healthcare and disaster
relief industries.
Forward Looking Statements - Safe Harbor
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Prime Star Group, Inc., its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may," "would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Prime Star Group, Inc.'s
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors. More information about the potential factors
that could affect the business and financial results is and will be
included in Prime Star Group, Inc.'s filings with the Securities
and Exchange Commission.
Public Relations Contact: Constellation Asset Management, LLC
(415)524-8500 or on the web at www.primestargroup.net
Perfect Solutions (PK) (USOTC:PSGI)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Perfect Solutions (PK) (USOTC:PSGI)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024