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News vom 2.11.01
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TEAM Communications Group Inc. Reaches Settlement Agreement
With German Production Entity, Frankfurter Film Products
LOS ANGELES--(BUSINESS WIRE)--Nov. 2, 2001--TEAM Communications Group Inc. (Nasdaq:TMTV - news) has tentatively agreed to settle all
outstanding litigation with German production entity Frankfurter Film Products Inc. (``FFP''), it was announced today by Jay J. Shapiro, President of
TEAM Communications Group.
The litigation was filed by FFP in September 2000, in U.S. District Court. Simultaneously, TEAM had filed a cross-complaint against FFP. While the
terms of such settlement are confidential, Shapiro has stated that ``no cash or other financial obligation will be involved.'' The final settlement is subject
to documentation and board approval.
TEAM Communications Group Inc. is a production and distribution company of quality, commercial television product. In addition to producing its own
programming, the company acquires programming that others produce, as well as film libraries for distribution worldwide. With a film library consisting
of a significant number of programming hours, TEAM distributes to television networks of all kinds such as free-over-the-air cable and satellite, and
licenses its products to the home video market.
The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. Certain information included in this
news release contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could
significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed. For a description of
additional risks and uncertainties, refer to TEAM Communications Group Inc.'s online filings with the Securities & Exchange Commission (at
www.sec.gov).
With German Production Entity, Frankfurter Film Products
LOS ANGELES--(BUSINESS WIRE)--Nov. 2, 2001--TEAM Communications Group Inc. (Nasdaq:TMTV - news) has tentatively agreed to settle all
outstanding litigation with German production entity Frankfurter Film Products Inc. (``FFP''), it was announced today by Jay J. Shapiro, President of
TEAM Communications Group.
The litigation was filed by FFP in September 2000, in U.S. District Court. Simultaneously, TEAM had filed a cross-complaint against FFP. While the
terms of such settlement are confidential, Shapiro has stated that ``no cash or other financial obligation will be involved.'' The final settlement is subject
to documentation and board approval.
TEAM Communications Group Inc. is a production and distribution company of quality, commercial television product. In addition to producing its own
programming, the company acquires programming that others produce, as well as film libraries for distribution worldwide. With a film library consisting
of a significant number of programming hours, TEAM distributes to television networks of all kinds such as free-over-the-air cable and satellite, and
licenses its products to the home video market.
The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. Certain information included in this
news release contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could
significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed. For a description of
additional risks and uncertainties, refer to TEAM Communications Group Inc.'s online filings with the Securities & Exchange Commission (at
www.sec.gov).
FÜR DIE SCHWARZEN.
Jetzt sieht die Welt wohl anders aus.
bin schon länger dabei.
Jetzt sieht die Welt wohl anders aus.
bin schon länger dabei.
dir Auskunft und nichts für ungut.
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