Advanced Powerline Technologies, Inc., Today Announces That It Has Filed Suit In Federal Court Against 27 Defendants To Seek Restitution For Damages From The November E-Mail Barrage.
WOODWARD, OK -- (PINKSHEETS) - January 26, 2007 -- Advanced Powerline Technologies, Inc., (Pink Sheets: APWL - News) announces today that it has filed a federal lawsuit naming 27 defendants and seeking restitution for damages from the November e-mail barrage.
On November 28, 2006, Advanced Powerline Technologies (APT) announced that management had become aware that third parties were distributing unsolicited emails regarding the company. The company emphasized that no such unsolicited communications had come from the company, nor had the company hired anyone to distribute them. APT cooperated fully with various authorities in an attempt to discover who was responsible for these emails. APT had been the target of such unsolicited ad campaigns in the past, and had for months been cooperating with authorities in on-going investigations regarding those activities. On December 9, 2006, APT announced that it had learned that governmental agencies believed that they had identified parties responsible for the recent email campaign. Yesterday, attorneys representing APT filed suit in federal court in the Southern District Court in Houston Texas listing 27 defendants and seeking recovery of damages in excess of twenty million dollars from said defendants. Interim President Timothy Pace said, "APT is highly confident that we will prevail in this action and that our case against the defendants is solid"
Mr. Pace went on to state, "We would like to thank once again all those involved that brought this to our attention and helped us locate these defendants. APT intends to pursue this to the fullest extent allowed under the law. Additionally, the company would like to reassure its shareholders that it is doing everything within its means to bring justice to them by acting to restore the shareholder value damaged by the wrongful acts of these defendants."
Advanced Powerline Technologies, Inc.'s principal business focus is to create and develop Broadband over Power Line (BPL) and Power Line Communications (PLC) friendly devices, products and services. The company's principal products at this time are liquid crystal display (LCD) digital televisions with high definition tuners (HDTV). The company intends on marketing the sales of High Definition Digital Televisions (HDTV) internationally and domestically. Upon the completion of research, development, and the verification of test results of the company's Broadband over Power Line (BPL) and Power Line Communications (PLC) devices, the company intends to utilize the technology within the existing product platforms to enhance their capabilities. Advanced Powerline Technologies, Inc.'s main products will become Broadband over Power Line (BPL) and Power Line Communications (PLC) friendly devices with the Company's related hardware and system service.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Advanced Powerline Technologies, Inc., (the ``company''), as well as those contained herein, that are not historical facts are ``forward-looking'' statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' ``believes,'' ``seeks,'' ``estimates,'' and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.
The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.
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CONTACT:
Advanced Powerline Technologies, Inc.
Christopher Holley, Vice President Investor Relations
Telephone (310) 544-8894
E-mail: [email protected]
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