OKLAHOMA CITY, Oct. 22, 2004 (PRIMEZONE) -- Dobson Communications Corporation (NASDAQ: DCEL) today announced that, according to press releases, shareholder suits have been filed against the Company alleging, among other matters, that the Company in 2003 and 2004 issued "materially false and misleading" statements about its operations.
Dobson believes that the suits are without merit and that it has fully complied with its disclosure obligations. The Company will vigorously defend itself against the claims and has referred the matter to counsel. Dobson fully expects to prevail when the suits are adjudicated.
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns wireless operations in 16 states. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, but are not limited to the outcome of the lawsuit referenced above and other factors. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports and other filings filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.