In a letter to shareholders, AVT Founder, Shannon Illingworth, wrote about AVT’s $100 million dollar lawsuit against Randall Lane.
Online PR News – 09-July-2010 – – CORONA, Calif., July 8, 2010 -- AVT, Inc. (formerly Automated Vending Technologies), (Pink Sheets: AVTC) (www.avtinconline.com)
In a letter to shareholders, AVT Founder, Shannon Illingworth, wrote about AVT’s $100 million dollar lawsuit against Randall Lane. The lawsuit was filed on June 30, 2010 in California Superior Court, County of Orange.
The lawsuit was filed by AVT in response to libelous and false claims made by Lane in his book and in his web column. The lawsuit also names The Penguin Group – publisher of Lane’s book, and RTST, Inc – an internet publishing house where Lane is Editor-at-Large.
In his letter to shareholders, Illingworth wrote: “Mr. Lane recently wrote and published in his book specific allegations against Lenny Dykstra, former major league professional baseball player. Among the allegations and statements Lane wrote concerning Mr. Dykstra, was that he (Dykstra) was given thousands of dollars worth of AVT stock as payment for his efforts to promote AVT.”
The letter further states that these allegations about AVT were completely false and damaging to AVT.
Illingworth stated categorically, “At no time ever has AVT engaged in stock or money transfer to Lenny Dykstra for the purpose of promoting AVT public stock.”
The lawsuit states that the Lane’s story and book “Included false statements, (and) was degrading to the plaintiff,” and that the defendants “acted in reckless disregard for the truth.”
Illingworth also noted that AVT is solid and secure, with production and stability that are as strong as ever. He stated, “We are continuing to build our business and further solidify our position as the technological leader in our industry.”
ABOUT AVT: AVT, Inc. is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable, yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising, remote tracking, and inventory management. AVT has a strong balance sheet and currently serves more than 300 government and commercial vending accounts.
For more information, visit AVT’s Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
Forward Looking Statements: This press release contains certain "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. These statements, as well as the phrases "strong", "secure", "leader", "advanced", "efficient", "stability", "significant", "continuing", "build", and similar expressions, are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of AVT, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Please refer to the documents that AVT has filed with the U.S. Securities and Exchange Commission, including AVT’s most recent quarterly report, for details on financial condition.
All forward-looking statements in this press release are based on information available to AVT as of the date hereof. All written or oral forward-looking statements attributable to AVT or any person acting on behalf of AVT are expressly qualified in their entirety by the foregoing. AVT does not undertake any obligation to update or revise any forward-looking statement contained herein to reflect any change in AVT’s expectation with regard thereto or any change in events, conditions or circumstances on which any such statement is based.