ITHH - Press ReleaseSource: ITIS Holdings Inc.
ITIS Announces New Litigation Support Contract
Wednesday May 7, 8:02 am ET
HOUSTON--(BUSINESS WIRE)--May 7, 2003--ITIS Holdings Inc. (OTCBB:ITHH - News) today announced that Houston attorneys John M. O'Quinn and James W. "Wes" Christian have hired ITIS subsidiary Litidex® to provide automated litigation support services for a stock manipulation case being filed for Sedona Corporation (SDNA.OB). Litidex® continues to provide litigation support services to a number of companies involved in litigation concerning alleged stock manipulation. Among the companies presently contracted with Litidex and already in litigation are Eagle Tech Communications Inc. (EATC.PK), Nanopierce Technologies Inc. (OTCBB:NPCT - News), Endovasc Ltd. Inc. (OTCBB:ENVC - News), RTIN Holdings Inc. (OTCBB:RTNH - News), Hyperdynamics Corporation (OTCBB:HYPD - News), and ATSI Communications Inc. (AI).
Wes Christian, of Christian, Smith & Jewell, commented, "In our opinion, we continue to see more and more occasions of small companies seeking capital to implement their business plans falling prey to predatory financing. The difficulty in capital formation and building a business, while a company's stock is continually manipulated downward, has, in our opinion, resulted in many good young companies disappearing."
Mr. Christian added, "It is further our opinion that this is a widespread problem in the financial markets today. The small start-up company is the foundation for many workers and technological advancements that are vital to economic growth. Just because you are a small-cap company doesn't mean you are not entitled to the same protections from naked short selling as any Fortune 500 company. We seek to repair the damages done to ITIS Holdings, Sedona, and all of the companies who have contracted with us to attempt to prevent this type of behavior in the future."
"Litidex continues to provide document management and litigation support work for stock fraud cases accepted by attorneys John O'Quinn and Wes Christian," said Chairman of ITIS Holdings Hunter Carr, who added, "We are excited to add Sedona Corporation to the group of companies that we are serving, and anticipate additional litigation support contracts are forthcoming."
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