Wednesday, June 19, 2002 2:54:53 PM
Company Settles Lawsuit
LOUISVILLE, Ky., Jun 18, 2002 /PRNewswire-FirstCall via COMTEX/ -- High Speed
Access Corp. (Nasdaq: HSAC) announced today that its hearing before a Nasdaq
Listing Qualifications Panel to review Nasdaq's Staff Determination for
delisting will occur on June 20, 2002. There can be no assurance that the Panel
will grant the company's request for continued listing. If the Panel does not
grant the company's appeal for continued listing, the company's common stock
will likely trade on the OTC-Bulletin Board or Pink Sheets.
As previously disclosed, the company intends to make a cash distribution or
distributions to its stockholders at some time in the future, but the number,
amount, timing, and record date(s) of such distribution(s) have not been
determined pending the settlement or liquidation of the company's material
contingent liabilities. The board has not yet determined what the company's
strategic direction will be with respect to any undistributed portion of its
assets.
HSA also announces that it has settled the claims of the former stockholders of
Digital Chainsaw, Inc. for $1.5 million. Other lawsuits and claims are still
pending against the company. These lawsuits and claims are described in the
company's Form 10-Q for the quarterly period ended March 31, 2002, filed with
the Securities and Exchange Commission.
SOURCE High Speed Access Corp.
CONTACT: Investors and Media, George E. Willett, President and CFO of
High Speed Access Corp., +1-502-420-7453, ir@hsacorp.net
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