DataWorld Solutions Retains Killgore, Pearlman, Stamp, Ornstein & Squires To Pursue Appropriate Remedies Against American Access Technologies
Market Wire, 20050229
DataWorld Solutions Inc. (OTCBB: DWLD.BB) (Frankfurt - VRX), announced today that they have retained the law firm of Killgore, Pearlman, Stamp, Ornstein & Squires to actively pursue all remedies against American Access Technologies (NASDAQ: AATK) for breach of contract for terminating the planned merger despite a binding agreement.
John Presley, President of American Access Technologies, announced the termination of the merger agreement with DataWorld on July 2, 2001. DataWorld believes that American Access's decision is in wrongful breach of their binding merger agreement and as such, is fully liable for all damages as a result of this breach.
"The decision by American Access to terminate the merger is in direct violation of our binding agreement," said Daniel McPhee, CEO of DataWorld Solutions. "We were in constant communications with American Access and both companies mutually agreed to pursue initiatives to ensure that the combined entity would be profitable from day one. John Presley was intimately involved in these discussions from the beginning and was fully aware of all financial aspects of DataWorld's operation. For Mr. Presley to claim that the termination of the agreement was "...due to material adverse changes in DataWorld's business and operations..." (AATK Press Release; July 2, 2001) is completely inappropriate," continued McPhee.
About DataWorld:
DataWorld Solutions, Inc., is a value-added manufacturer of electronic cable assemblies used in providing connectivity solutions, which includes systems integration, for customers operating a wide range of data systems. This includes linking or connecting standard or proprietary electronic devices and peripheral components from different vendors to provide solutions for various customer requirements. The Company adds value by providing connectivity solutions, which may include distributed sales for passive components such as electronic connectors, electronic wire and cable, cabinets and racks and patch panels, and active components, including hubs, bridges, routers, gateways and modems. DataWorld is headquartered in New York on Long Island with remote sales offices in San Jose, California, and New England.
Except for historical matter, the matters in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation reform Act of 1995. The forward-looking statements reflect assumptions, and involve risks and uncertainties, which might affect the company's business and prospects and cause actual results to differ materially from these forward-looking statements, which are detailed in the company's public filings with the SEC.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- CORRECTION FROM SOURCE/Media Advisory: Fallen Canadian Soldiers and Journalist Return Home
- Fox Networks Group and Bright House Networks Strike Comprehensive Deal to Distribute Fox Broadcast Stations, National Cable and Regional Sports Networks
- Fox Networks Group and Time Warner Cable Strike Comprehensive Deal to Distribute Fox Broadcast Stations, National Cable and Regional Sports Networks
- Houston Radio D.J. Kevin Kline Completes 500-Mile, 13-Day Ultramarathon Across Texas for Kids with Cancer
- Seaspan Corporation Provides Information on the CSCL Hamburg
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions



