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Junk Faxes to Promote Stock; Signalife Loses Lawsuit


Peter Strojnik, P.C. Files First Amended Complaint Alleging Signalife, Inc. Engaged in Mass Broadcasting of Junk Faxes to Promote Its Stock; Signalife Loses Strojnik Lawsuit

Wednesday, November 05, 2008 12:30ET

PHOENIX, Nov 05, 2008 (BUSINESS WIRE) -- On October 7, 2008, Peter Strojnik, P.C. filed a first amended complaint in its proposed class action lawsuit against Signalife, Inc. in the United States District Court for the District of Arizona, case number 2:08-cv-1116, alleging the medical supply company engaged in a mass-broadcast of junk faxes to promote its stock.

President and CEO of Peter Strojnik, P.C., Peter Strojnik, opined that Signalife certainly has a motive to pump up the price of their stock. The Complaint alleges "Signalife had a net loss for the six months ending June 20, 2008 in the amount of $8,826,795.00." Mr. Strojnik added, "Signalife admitted in a recent Form 10Q that they had no revenues from product sales during the first half of 2008." Indeed, the Complaint alleges "Signalife has no sales revenues and admits ... that its inability to generate revenues could cause it to go out of business."

Signalife has not gone out of business, but they have been delisted from the American Stock Exchange. In fact, Signalife recently affected a 4500 for 1 reverse stock split and started trading on the OTCBB and Pink Sheets.

Mr. Strojnik explained that the Telephone Consumer Protection Act awards damages at a minimum of $500 for each unsolicited fax. The proposed class action lawsuit against Signalife and others alleges Defendants broadcasted between approximately 12 million to 16 million unsolicited faxes.

In what Mr. Strojnik opined was a defense tactic, Signalife, Inc. filed a Complaint for Declaratory Relief against Peter Strojnik, P.C. in Los Angeles. Signalife sought a decree that it did not violate the TCPA. After several months of argument and deliberations, Orange County Superior Court dismissed the case.

Peter Strojnik, P.C.'s proposed class action lawsuit alleges that "The purpose of the Unsolicited Fax was to manipulate SGN stock or any publicly traded Signalife stock in the securities market." Mr. Strojnik opined, "Signalife cannot be allowed to violate federal law without redress for the regular people who receive these annoying faxes." Paraphrasing the allegations of the Complaint, Mr. Strojnik stated, "In my opinion, Signalife or its insiders hired a third party fax blaster to broadcast millions of faxes promoting its stock." Indeed, Signalife admits in its most recent Form 10Q that they are "in discussions with a number of large third party marketing and distribution partners with the manpower and financial resources to more quickly and aggressively promote [its] products."

Other defendants in the class action lawsuit include Digitalspeed Communications, Inc. and Adam Harris Pasternack.

For more information, please contact Peter Strojnik at ps@strojnik.com or at (602) 524-6602.

SOURCE: Peter Strojnik, P.C.

Peter Strojnik, P.C.
Peter Strojnik, 602-524-6602

Copyright Business Wire 2008

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#192   HRTT: The U.S. District Court for the Central Renee 04/18/16 08:34:42 AM
#191   HRTT: SEC Wins Summary Judgment Against Mitchell J. Renee 02/23/15 04:17:10 PM
#190   HRTT: SEC Settles Fraud Charges Against Former Heart Renee 09/10/14 05:59:48 PM
#188   HRTT SEC Litigation: Renee 08/09/12 09:36:01 AM
#187   Yet, the Notice says nothing of HRTT and Rustler 01/10/12 10:02:33 PM
#186   I'd call it a chill: sidedraft 01/10/12 09:56:33 PM
#185   SOME say this means HRTT is on the Rustler 01/10/12 09:52:22 PM
#184   Today's list of DTCC trade for trade designation: sidedraft 01/06/12 11:08:46 AM
#183   HRTT - SEC accuses Willie Gault of fraud SevenTenEleven 12/21/11 11:02:55 PM
#182   $HRTT big in the news... Big Chart.. Penny Roger$ 12/21/11 02:13:34 AM
#181   SEC Charges California Company, Co-CEOs, and Attorney in scion 12/20/11 03:45:02 PM
#180   Where is everyone ?? David1972 02/03/09 05:48:42 PM
#179   Is anything going to happen with this David1972 02/03/09 05:48:04 PM
#178   I have had a few shares of this David1972 02/02/09 11:16:48 PM
#177   Is this going up anytime soon ?? David1972 02/02/09 11:13:14 PM
#176   Legend Willie Gault Becomes Signalife's Co-CEO; Company Changing ScovilleUnits 11/11/08 11:27:28 AM
#175   I resigned as Moderator. I have not owned TechKim 11/11/08 08:29:56 AM
#174   Peter Strojnik, P.C. Files First Amended Complaint Alleging TechKim 11/11/08 08:28:02 AM
#173   I DO NOT OWN ANY SHARES. PLEASE TechKim 11/11/08 08:15:21 AM
#172   #146 **SGN Weekly Annotated Chart** ScovilleUnits 11/07/08 02:29:18 PM
#171   Junk Faxes to Promote Stock; Signalife Loses Lawsuit ScovilleUnits 11/07/08 01:46:34 PM
#170   Monday, September 15, 2008 at 11:00 a.m., Pacific TechKim 09/10/08 10:54:30 PM
#169   You are 100% on target...lol and I bought Aufan 1983 09/10/08 08:34:00 PM
#168   A R/S to $45.00/share from $.04/share ? ScovilleUnits 09/10/08 01:21:21 PM
#167   Signalife Announces Anticipated Date of Transition to OTCBB TechKim 09/08/08 10:36:57 AM
#166   B/c you made me feel special:) McMook 09/07/08 10:59:23 AM
#165   The stock appears to be a problem for TechKim 09/06/08 08:56:01 PM
#164   SGN is junk huuu? kittycattttt 09/06/08 12:53:47 AM
#163   A similarity exist of bandit manipulation! The hijackers TechKim 09/05/08 11:39:59 PM
#162   Ameritrade shows .98? WTF kittycattttt 09/05/08 08:44:04 PM
#161   Yahoo showing .15 after hours kittycattttt 09/05/08 08:29:29 PM
#160   Been waitin all day 4 this news! Lets kittycattttt 09/03/08 02:22:51 PM
#159   Hot off the wire. FWIW! Interesting soap opera TikiGal 09/03/08 02:12:22 PM
#158   The Moderator presently does not own any shares. TechKim 09/02/08 04:18:53 PM
#157   Lets see what happens 2morrow with the breaking kittycattttt 09/02/08 12:58:31 PM
#156   The Moderator presently does not own any shares. TechKim 08/11/08 09:50:10 AM
#155   Signalife Announces Intent to Withdraw From AMEX and TechKim 08/11/08 09:49:03 AM
#154   AFL To Return to Oklahoma Due to Overwhelming TechKim 07/16/08 09:55:21 AM
#153   Signalife Board Approves Merger TechKim 07/11/08 10:38:42 AM
#152   Signalife and Heart One Global Research Agree to Merge TechKim 07/07/08 09:45:30 AM
#151   Signalife Announces AFL Joins NIH Education Program TheRaveninexile 06/20/08 12:36:45 PM
#150   I think the company products verses the company TechKim 06/11/08 01:51:40 AM
#149   SGN _ it dropped 35% today. What do ||hirani22|| 06/09/08 03:55:05 PM
#148   SGN Annotated Chart bkreegz 06/05/08 08:44:01 AM
#147   Nice markup $tock Weazel. J-RO 06/05/08 08:27:53 AM
#146   color=orange**SGN Weekly Annotated Chart** Empire State 06/04/08 10:37:04 PM
#145   Notice of Delisting or Failure to Satisfy a TechKim 05/16/08 09:06:12 AM
#144   Signalife Appoints Lee Ehrlichman as Company Director and TechKim 05/15/08 11:26:02 PM
#143   Largest Shareholder coloradodreamin 05/12/08 02:48:39 PM
#142   I have been watching this stock for a MB3 05/11/08 08:25:15 PM
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