Universal Express Supports Overstock
NEW YORK, NY -- (MARKETWIRE) -- 07/19/07 -- Universal Express Inc. (OTCBB: USXP),
www.usxp.com, the recipient of $700,000,000 naked short selling judgments and presently actively involved in an on-going naked shorting case with the SEC, today congratulated Overstock on its California victory in its litigation against prime brokers on naked short selling. (
http://biz.yahoo.com/prnews/070718/law077.html?.v=101)
"This victory simply puts additional corporate diversity and issue credibility in front of legislators, judges, shareholders and American citizens. Since the SEC has repeatedly stated that naked short selling doesn't exist, Universal Express initiated its lawsuit to be paid its $700,000,000 fraud judgments from the SEC's participation and failure to enforce the counterfeiting and securities laws of the United States. Unfortunately, the SEC's defense tactics normally involve ignoring the actual issues and to seek to eliminate the plaintiff by issuing defamatory press releases to distract taxpayer focus from the real issue at hand," said Richard A. Altomare, Chairman and CEO of Universal Express, Inc.
"Overstock's victory today has split the SEC's defense for those of us who have been advancing towards a jury trial and legal discovery in a New York courtroom.
"As a former Marine, I am not afraid of a conflicted governmental agency. That has been the reason that Universal Express has proudly and valiantly fought against obvious odds for over 10 years against the SEC and its broken trading system. Sophisticated analysts are beginning to see that companies like Overstock and Universal Express' actions will soon present to the American public a scandal which will shockingly dwarf previous governmental abuse of power scandals.
"Universal Express' jury trial has been requested and like Overstock our case is on behalf of our corporate reputations, corporate shareholder base and for all those thousands of small public companies, hundreds of thousands of investors and tens of thousands of employees injured by the naked shorting scandal, now commonly referred to as 'Stockgate'. America needs whistleblowers to shine a light on this economic SEC naked short selling debacle which has caused over 6,000 public companies to fail in the past six years.
"A governmental agency that attacks, intimidates and 'eats its young' needs to be investigated by a higher authority - our future trading system and economic base deserves that exposure. Both of our requested jury trials will present the real naked shorting issues, the real challenges and most importantly the real solutions," concluded Mr. Altomare.
