Federal Court Throws Out Frivolous RICO Claims Against Getfugu
27 August 2010 - 8:00PM
Marketwired
Getfugu (OTCBB: GFGU), the next generation mobile search tool,
today announced that U.S. District Court Judge George H. King has
dismissed a civil RICO lawsuit brought against the Company and its
officers and directors. The court determined that there was
absolutely no valid basis to file a lawsuit accusing the company of
being a racketeer influenced corrupt organization, denied leave to
amend, and dismissed the claims with prejudice.
"After a detailed and thorough review of all the allegations,
the judge has found that plaintiffs' RICO claims never even should
have been filed," said the Company's attorney, John C. Kirkland, a
partner at Luce, Forward, Hamilton & Scripps LLP. "They were
utterly and completely without any legal merit whatsoever."
"This is a new day for Getfugu," said Rich Jenkins, the
Company's Co-Founder. "The floodgates have been opened for a host
of new business opportunities that have been held up because of
these spurious and unfounded claims. We expect now to be able to
swiftly activate our business plan, which emphasizes Augmented
Reality in commerce, entertainment, sports, and even politics."
"The Federal Court decision today means that the cloud under
which we have unjustifiably been forced to operate over the last
nine months has been lifted," observed Carl Freer, GFGU's
Co-Founder and Chief Executive. "Having this frivolous lawsuit
thrown out will allow us to begin rebuilding revenue and
re-establishing stakeholder confidence that was wrongfully put on
hold. We look forward to rapidly regaining our advanced position in
the further development of 'See it, Say it, Get it' technology to
connect consumers and manufacturers."
About Getfugu Getfugu, Inc.'s
revolutionary "See It, Say It, Get It" technology is the first
carrier agnostic, platform agnostic mobile search platform. Getfugu
will change the way people access the web with their mobile phones.
It is designed to facilitate and encourage users by integrating the
mobile phone's core strengths -- image, voice and location
recognition -- into a single customizable application.
Additionally, Getfugu offers the only mobile e-commerce platform
available worldwide today. The Getfugu platform will soon be
available for 97% of the mobile phones available (over 3.3 billion
handsets) worldwide.
For more information on Getfugu, please visit our website at:
www.Getfugu.com
Forward-Looking Statements Except for
statements of historical fact, the matters discussed above are
forward-looking and made pursuant to the Safe Harbor provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect numerous assumptions and involve
a variety of risks and uncertainties, many of which are beyond the
company's control that may cause actual results to differ
materially from stated expectations. These risk factors include,
among others, limited operating history, intense competition, and
difficulty in developing, exploiting and protecting proprietary
technologies; as well as additional risks factors discussed in the
reports filed by the company with the Securities and Exchange
Commission, which are available on its website at
http://www.sec.gov. Except as required by law, the company
undertakes no obligation to update any information.
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