( AFFI ) - January 19, 2004 19:43
Affinity Announces Jury Award of $386,148 Against the Company in Connection with Litigation Involving Temple Ligon
COLUMBIA, S.C., Jan 19, 2004 (BUSINESS WIRE) -- Affinity Technology Group, Inc. (OTCBB: AFFI) today announced that the second trial in connection with the lawsuit brought against the company by Temple Ligon has resulted in a jury verdict against the Company and its founder, Jeff Norris, of $386,148. As previously announced, Mr. Ligon claims that Affinity breached an agreement to give him a 1% equity interest in the company in consideration of services Mr. Ligon claims to have performed in 1993 and 1994. Mr. Ligon sought damages in excess of $5 million. The Company continues to believe that it has meritorious defenses against Mr. Ligon's claims and is considering its legal options, including filing an appeal.
Joe Boyle, Affinity's President and Chief Executive Officer, said, "We are evaluating all legal options available to us, including challenging the verdict through post trial motions or on appeal. We have tried this matter twice and in both cases, the jury has awarded Mr. Ligon an amount substantially below the amount of damages he claims to have suffered. We continue to believe that the company has meritorious defenses against Mr. Ligon's claims. As this matter proceeds, we will take all appropriate actions necessary to protect our stakeholders, including filing a petition for relief under applicable bankruptcy laws if necessary."
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