SOURCE: Universal Express, Inc.

September 04, 2007 13:54 ET

Universal Express to File Stay in Appellate Court

NEW YORK, NY--(Marketwire - September 4, 2007) - Universal Express Inc. (OTCBB: USXP) Chairman and CEO, Richard A. Altomare, today said, "Universal Express' case against the SEC last Friday took another historic and remarkable twist. The same Judge who disregarded the Company's request for an initial jury trial to present the facts of this case, today decided, in direct contrast to the judicial rules that he would now even attempt to prevent the Company's Appellate review."

"I remain confident that I live in a country with a judicial system that permits its citizenry, especially those of us who have served in its armed forces, to be permitted to plead the merits of any legal issue before a jury of our peers," stated Mr. Altomare.

"This ramrodded legal debacle has simply been of a regulatory agency over-reacting to a civil interpretation of the bankruptcy code to silence a company which was awarded $700,000,000 for naked short selling. Attempting to silence the truth is quite different than trying to get to the bottom of that truth.

"Is the Judge concerned that Appellate Judges will overturn his summary pro-SEC ruling? Why is the Judge unnecessarily anxious to silence this Company? Has the Judge ever met anyone from this 23-year-old Company? Does the Court even understand the Company's businesses?

"Universal Express will file a stay in the Appellate Court, and will hold the actions of the Court responsible for any adverse reactions.

"The entire basis of this retaliatory case brought by the SEC was to silence the Company's historical Naked Short Selling constitutional legal issue, a documented cover-up by the SEC that has already destroyed over 10,000 small public companies.

"The unfortunate and capricious actions of the Judge indicate an almost 'movie-quality' need to silence the truth in this case. The actual legal merits of this case do not necessitate this draconian action. It will be the responsibility of a full hearing, not one misinformed appointee, to determine the future of our 23-year-old Company. Can therefore any American business be silenced without a requested hearing simply because that business may be entitled to governmental damages?

"Realistically how can an American businessman's first day in Court be the day he is ordered in for contempt? I'm sure there's the testimony day, the cross-examination day and the decision day. Obviously, Judge Lynch believes that might makes right, while this former Marine and founder of this Company still believes in 'due process' and democratic justice," stated Mr. Altomare

"A full judicial hearing will also be requested for the inappropriate actions of this Court," concluded Mr. Altomare.

About Universal Express

Universal Express, Inc. is a 23-year-old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com

Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:

    Mark Falk
    Universal Express, Inc.
    561-367-6177
    Email Contact