Universal Express' Lawsuit of $1.4 Billion USD to Move SEC to United States Appellate Court.
Publication Date: 04-APR-05
Publication Title: Business Wire
Format: Online
Company: Universal Express Inc.
NEW YORK -- Universal Express Inc. (OTCBB: USXP) today reports that compensatory damages in the Company's suit filed against the Security and Exchange Commission with respect to the "naked shorting" scandal is now estimated to exceed $1.4 Billion USD.
"Despite the fact that the SEC ignored, denied and attempted to cover-up the 'naked short selling' scandal, Universal Express and others have been courageously exposing this SEC issuance of trillions of counterfeit shares as a violation of criminal statutes and a destruction of public trading confidence," said Christopher G. Gunderson, General Counsel of Universal Express.