SAN DIEGO, Feb. 18, 2005 (PRIMEZONE) -- Fighting to protect stockholders, Victory Capital Holdings Corp. filed a lawsuit against a former independent contractor on Friday for libeling the company to drive down its stock.
According to the $10 million lawsuit, former independent contractor George A. Sharp allegedly released false information about Victory to injure the value of its business, its stock and the stockholders. The lawsuit alleges that Sharp intended to harm stockholders, by intentionally publishing false and misleading statements about the company after he had filed a lawsuit, which amounts to little more than "legal" extortion.
"We are aggressively fighting to protect our shareholders," said Victory Chairman & CEO Jon Fullenkamp. "We trust that the legal system will right this wrong."
Victory Capital Holdings Corporation (VTYC), organized in Nevada, is a publicly traded company. The company is designed to leverage the assets of existing, proven technology and to infuse those assets with marketing, management and financial support to become the recognized leader in its space.