Teletouch Subsidiary – Progressive Concepts, Inc. (Hawk Electronics) and AT&T Receive Scheduling Order for Arbitration: Hearing Date(s) Assigned for November 8-11, 2010
18.02.2010 | Author: Business Wire | Posted in Technology | Press Release Tags: Advisory, lawsuit, Legal, Mobile/Wireless, North America, professional services, Technology, telecommunications, Texas, United States
FORT WORTH, Texas–(BUSINESS WIRE)– Teletouch Communications, Inc. (OTC: TLLE), a leading U.S. wireless services and consumer electronics provider, today announced that both its wholly-owned subsidiary, Progressive Concepts, Inc. dba Hawk Electronics (“PCI”) as Claimant and AT&T (NYSE: T) as Respondent had recently received the Agreed Scheduling Order from the JAMS Arbitrator assigned to the binding arbitration. Among other matters, including the provision of the Rules and Law governing the arbitration, the Agreed Scheduling Order sets out the proposed completion dates for Discovery, Depositions, Dispositive Motions and Briefing Deadlines, culminating in Arbitration Hearing Date(s) scheduled for November 8 – November 12, 2010.
As previously reported on September 30, 2009, PCI d/b/a Hawk Electronics, the largest remaining Master Distributor and Authorized Services Provider for AT&T cellular products and services in the U.S., initiated legal action against AT&T seeking a minimum $100 million in damages. The process of binding arbitration was commenced to seek relief for damages incurred when AT&T prevented the company from selling Apple, Inc.’s (Nasdaq: AAPL) popular iPhone and other “AT&T exclusive” products and services that PCI contends it is entitled by contract to provide to its customers. The action further asserts that AT&T has violated the longstanding non-solicitation agreement between the companies, by actively inducing customers to leave PCI for AT&T and employing anti-competitive and predatory business practices. PCI is being represented in this matter by the Company’s long-time counsel at the national law firm of Bracewell & Giuliani LLP.
For a more detailed description of the Company’s legal action Notice and Initial Statement of Claim, please refer to the related Form 8-K, filed October 1, 2009 (available at the Company’s website: www.teletouch.com and on EDGAR at www.sec.gov).
About Teletouch Communications
For nearly 45 years, Teletouch has offered a comprehensive suite of wireless telecommunications solutions, including cellular, two-way radio, GPS-telemetry and wireless messaging. Teletouch is a leading direct provider and billing agent of AT&T (NYSE: T) products and services (voice, data and entertainment) to consumers, businesses and government agencies, as well as an operator of its own two-way radio network and LTR systems in Texas. Recently, Teletouch entered into national agency and distribution agreements with Sprint (NYSE: S) and Clearwire (NASDAQ: CLWR), providers of advanced 4G cellular network services. Teletouch operates a chain of 26 retail and agent stores under the “Teletouch” and “Hawk Electronics” brands, in conjunction with its direct sales force, call centers and various retail eCommerce websites including: www.hawkelectronics.com and www.hawkexpress.com. Through its wholly-owned subsidiary, Progressive Concepts, Inc., Teletouch operates a national distribution business, PCI Wholesale, primarily serving large cellular carrier agents and rural carriers, as well as auto dealers and smaller consumer electronics retailers, with product sales and support available through www.pciwholesale.com and www.pcidropship.com, among other B2B oriented websites.
Teletouch’s common stock is traded Over-The-Counter under stock symbol: TLLE. Additional information about the Teletouch family of companies can be found at www.teletouch.com.
All statements from Teletouch Communications, Inc. in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the PSLRA of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption “Risk Factors” in the Company’s most recent Form 10-K and 10-Q filings, and amendments thereto, as well as other public filings with the SEC since such date. The Company operates in a rapidly changing and competitive environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.
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