SOURCE: BGI, Inc.

November 19, 2008 17:26 ET

BGI Announces Mediated Settlement Agreement

AUSTIN, TX--(Marketwire - November 19, 2008) - BGI, Inc. (PINKSHEETS: BGII) today announced that a Mediated Settlement Agreement has been entered into between Cyberdyne Systems, Inc., and its related entities and BGI, Inc. and its related entities setting out the terms by which the parties will settle all ongoing litigation between the parties.

The terms of the Mediated Settlement Agreement include settlement terms for the civil case styled Cyberdyne Systems, Inc., v BGI, Inc. case number CV06-02954-PHX-ROS, filed in the United States District Court, District of Arizona and the civil case styled Cyberdyne Systems Inc., v. Telephonics Vending LLC and Prepaid Plus, Inc., case number A-08-CA-268-SS, filed in the United States District Court for the Western District of Texas, Austin Division. This Mediated Settlement Agreement is meant to settle all of the issues in dispute between all parties.

This press release may contain forward-looking statements including BGI's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, changes in anticipated earnings of the company and changes in the competitive marketplace. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.

About BGI, Inc.

BGI, Inc. (http://www.bgicorp.com) is engaged in new business development concentrating its efforts on companies with growth potential in software and web 2.0 technologies as well as companies with green forward thinking technologies. BGI, Inc. was founded in 1994 and has offices in Austin, Texas. The Company currently trades on the Pink Sheets under the symbol BGII.

Contact Information

  • Corporate Contact:
    Don B. Mauro
    BGI, Inc.
    13091 Pond Springs Road, Suite D-350
    Austin, Texas 78758
    Phone: (512) 335-0065, ext. 203
    Fax (515) 335-0078
    Web: www.bgicorp.com