CHDT Corporation Prevails in Lawsuit
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Mon, 09 Nov 2009 14:32:16 GMT |
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CHDT Corp. |
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DEERFIELD BEACH, FL -- 11/09/09 --
CHDT Corporation, a Florida corporation
(OTCBB: CHDO), (Company) announced today that that the U.S. District Court
for the Southern District of New York (Court) has denied all claims of the
plaintiffs in their lawsuit against the Company. In a November 5, 2009
Memorandum of Decision, the Court ruled that the Plaintiffs had failed to
establish their claims and would recover nothing under their amended
complaint.
"We are extremely pleased by the decision in this lawsuit, which has been a
hindrance to promoting the Company since 2004. While an appeal is
possible, we are confident that the decision of November 5, 2009 is well
reasoned and establishes that the plaintiffs have failed to make their case
under applicable law. The November 5, 2009 decision is the third occasion
that the plaintiffs' claims have been denied: the initial complaint and
amended complaint being dismissed on motion and now the decision after
trial that the plaintiffs have failed to establish any of their claims,"
said Howard Ullman, Chairman of the Board of Directors.
FORWARD-LOOKING STATEMENTS: This press release may contain "forward-looking
statements" as that term is defined in the Private Securities Litigation
Reform Act of 1995, as amended. These statements are based on the Company's
and its subsidiaries' current expectations and involve risks and
uncertainties, which may cause results to differ materially from those set
forth in the statements. No forward-looking statement can be guaranteed,
and actual results may differ materially from those stated or projected.
Company undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events, or
otherwise. Forward-looking statements in this press release and risks
associated with any investment in Company, which is a small business
concern and a "penny stock company" and, as such, a highly risky investment
suitable for only those who can afford to lose such investment, should be
evaluated together with the many uncertainties that affect Company's
business, particularly those mentioned in the cautionary statements in
current and future Company filings with the Securities and Exchange
Commission.
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