(PRWEB) January 27, 2001
Consulting For Strategic Growth, Ltd.
Corporate Development Consultants
James R. McGonigle
SWARTHMORE, PA Â January 24, 2001 Â Longport Inc. (OTC:LPTI) announced today it has received a litigation settlement of $668,000. The settlement payment was received in a lawsuit previously filed by Longport, which related to prior lawsuits concerning LongportÂs rights to certain scanner technology. The defendants in the settled litigation have expressly denied any wrongdoing.
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This press release may contain certain forward-looking statements that relate to LONGPORTÂS future business and financial performance. Such statements are subject to a number of risks and uncertainties that may cause the actual events of future results to differ from those discussed herein. Such factors include, among others: LONGPORTÂS recent change in its business model, fluctuating quarterly operating results, expectation of future losses, dependence on its current product lines, lack of long-term commitments with customers, dependence on manufacturers and strategic relationships, product delays, the difficulty of protecting proprietary rights, the ability to manage growth and attract and retain additional personnel, the potential for defects in its products, risks from international operations, its ability to raise capital in the future, competition, its ability to manage technological change and respond to evolving industry standards, government regulation and Year 2000 software issues. Investors are advised to read LONGPORTÂS Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission for a fuller discussion of these and other risks and uncertainties.