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Amwest Wrongfully Named in Lawsuit and Will Aggressively Defend Action and Seek Damages(December 08, 2011)
EVANSVILLE, IN -- (Marketwire) -- 12/08/11 -- Amwest Imaging Incorporated (OTCBB: AMWI) was the subject of a press release issued today by a George Sharp. Mr. Sharp has indicated that he has named the Company (and others) as an additional defendant in his lawsuit against Writers' Group Film Corp., Front Row Networks, Inc., Tal Kapelner, Ariella Kapelner, John Diaz and Does 1 through 50, inclusive, in the Superior Court of the State of California, County of Los Angeles, Central District, Case Number BC 461550.
Mr. Sharp's press release contains numerous misstatements of facts attributed directly to Mr. Sharp to include where the Company is located, the nature of the ownership of the Company, alleged relationships to others and a defamatory assertion that the Company is not successful. The Company is informed and believes that Mr. Sharp has filed similar civil actions against numerous other public companies alleging fraud, misrepresentation, violation of California Corporations Code and Business and Professions Code.
Mr. Sharp has indicated that he is a former shareholder of the Company. The Company has no relationships with any of Mr. Sharp's aforementioned named defendant companies or aforementioned named individuals. Mr. Sharp is not represented by counsel. The Company has not been served with the complaint.
The Company is examining its legal options which may be, but are not limited to, a lawsuit being filed with significant damages being sought. The Company intends to do everything possible to protect its shareholders from the potential damages caused as a result of this legal action.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
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Amwest Imaging Incorporated
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