This is for our believers that there is no NSS here.
Release Source: Universal Express, Inc.
Universal Express Responds to SEC Request
Monday June 25, 7:30 am ET
NEW YORK, NY--(MARKET WIRE)--Jun 25, 2007 -- Universal Express, Inc. (OTC BB:USXP.OB - News) CEO Richard A. Altomare responded to the most recent SEC's revealing and inappropriate request for Receivership. "How can Receivership be requested for a company with a functioning chain of command, with ongoing acquisitions, with increasing valuation and with vibrant subsidiaries?" asked Mr. Altomare.
"Did Universal Express request Receivership to replace SEC management after we received a $700,000,000 judgment proving the existence of naked short selling and the awareness of the SEC's active participation in that illegal practice?" continued Mr. Altomare.
"Did Universal Express request Receivership when 6000 companies were damaged or failed due to the trading problems caused by naked short selling or when the SEC reversed its public statements on the existence of naked short selling or when the SEC issued a criminal counterfeiting grandfather clause and was recently forced to remove it?
"A 'before the appeal' grandstanding Receivership request reveals the SEC's fear of our jury trial appeal. Our entitled jury trial will determine not only if USXP did anything worthy of such attention, but if the SEC's naked short selling cover-up resulted in causing this case in the first place. That jury trial will also determine if the SEC owes the $700,000,000 judgment and has over-regulated, profited from, or damaged other public companies.
"Universal Express is much more than a court case with the SEC. Yet, with no jury trial, no criminal accusations, how does the opposing litigant in an existing legal matter attempt to seize and discredit a company with a proven $700,000,000 judgment against the process which has been permitted by the same litigant?
"Such a premature and legally unfounded press maneuver causes no concern, no capitulation and no docile acceptance of something that would take months to accomplish if there had been no jury trial planned.
"Naked short sellers first demean and bash a company's core business or CEO, then begins short selling the company's value and finally they try to destroy the stock value so that they will never have to pay for their criminal activity. In this case, the only additional ingredient added by the SEC is the avoidance of a jury trial. Apparently, the SEC has learned the pattern taught by professional naked short sellers. Fortunately, our justice department must permit a full jury trial appeal process.
"Throughout the centuries of human development, well-intended government employees, judges and even some journalists have blindly embraced unquestioned status quo practices until the collective intelligence of the common man finally understood that the status quo may have been incorrect.
"Segregation, women's rights, gay rights, fascism and even unpopular wars have taken intelligent and well-intended people decades to realize that the status quo may have been wrong. Naked short selling and today's SEC unchecked policies are part of that same critical thought process. When legal status quo is questioned, the individuals who question those practices must be persistent, resilient and believe the results are worth the battle.
"For 17 years, Universal Express' filings were approved by the SEC. Yet, days after suing the SEC for its naked short selling policy our entire capitalization was attacked by the opposing litigant in our trial. The only defense the SEC feels it has to present is one of immunity from prosecution. Our requested jury trial will question immunity, naked short selling, abuse of power and monies owed to failed public companies. Therefore, it is no surprise that the SEC wants to also run our company during that trial.
"This trial will examine, through full disclosure, the magnitude of the incompetence, abuse of power or criminal activities. The stakes of this case are much more complex than 'paid or friendly' reporters would want the collective intelligent reader to be told.
"I am sure that Rosa Parks, Susan B. Anthony and others, who questioned previously accepted 'legal' practices, were vilified, criticized and even demonized prior to the truth finally surfacing. When the cause is just, the enemy must be engaged. Naked short selling and the unchecked abuse of power of a governmental agency are such valuable causes worthy of the battle. We will help the truth to surface.
"Universal Express intends to vigorously defend the rights of its officers, employees, shareholders and all worldwide investors. We have requested a jury trial for full disclosure and let us not forget that all components of this company continue functioning and prospering.
"After all the facts are heard, Universal Express will have aided in improving our future trading system, create a healthier relationship between the regulatory agency and its member companies, as well as, receiving the funds its shareholders have earned during this ten year process of aiding in the surfacing of the truth," concluded Richard A. Altomare, CEO.
About Universal Express
Universal Express, Inc. is a 23-year-old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Contact:
Chris Gunderson
Universal Express, Inc.
917-639-4157
Email Contact
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Source: Universal Express, Inc.
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