Message #32 From:
NewsBot Date: June 30, 2006 10:24:00 AM
MSEP News MotorSports Emporium Settles Lawsuit; MSEP Obtains Exclusive Ownership Rights to GS610.com Web Site
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--June 30, 2006--MotorSports Emporium Inc. (OTCBB: MSEP) announced today a settlement agreement has been established between MSEP and Michael G. Wachholz.
David Keaveney, president and CEO of MotorSports Emporium, commented, "MSEP is pleased with the terms of the settlement. We gain ownership of the GS610.com domain for the duration of the License Agreement including sole and exclusive control over the GS610.com Web site. The license agreement remains in full force and effect. The settlement brings positive energy for us moving forward; we are glad it's behind us. We wish Mr. Wachholz the best in his endeavors."
Neither party admitted liability or wrongdoing. The terms of the settlement are confidential. The parties anticipate filing a stipulation for dismissal within 30 days.
This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
