Press Release Source: Signalife Inc (AMEX: SGN)
Signalife Sues Vianale & Vianale and Twelve Brokerage Houses For Injunctive Relief Against Naked Short Selling and Market Manipulation; And For Losses Caused to Citizens Who Have Been Harmed As A Result of Their MisConduct
LOS ANGELES CA -- Signalife, Inc. -- (Amex: SGN) -- and families yet to be named but known by Signalife who at this time chooses to protect their privacy – has sued Kenneth Vianale and his wife Julie, as well as the nation’s largest brokerage houses, for conspiracy to knowingly violate the federal securities laws. In addition, for the damages caused therewith including, tragically, in many cases extraordinary injuries caused to persons who have therefore not been given access to the Companies’ revolutionary technologies. The Securities and Exchange Commission has released data that the April selling of Signalife securities was not “a sell off” (as the defendants have lied about) but a planned naked bear attack determined to coincide with a web cast at which the bona fides of the device were not discussed at all. The alleged unlawful taking of stock of Signalife’s corporate treasury is believed to have cost innumerable families extensive physical injury – an intended consequence of naked short selling of a start-up company attempting to market and sell its revolutionary heart machine. While Signalife has nonetheless saved documented lives throughout this period and thereafter, it does not have the financial and “regulatory” resources of Merrill Lynch, Smith Barney and other brokerage houses – nor is Signalife calculating to destroy the life-saving machine it provides patients – in the way the defendants Kenneth and Julie Vianale and other defendants have injured lives in order to pay their car notes, to pay for clothing and to pay for haircuts, beauty expenses and personal goods.
The CEO of Signalife, business legend Rowland Perkins, commented: “Well, one thing is salutary. Every single short sale will be looked at with a fine-tooth-comb by regulators, by my friends and colleagues at Congress, by Signalife and by others. Every life that Signalife cannot access with its revolutionary heart machine as a result of the Vianale defendants, and others’, misconduct, is a life who will sue everybody responsible if they are unfairly injured by not having proper access to cardiovascular screening: Because if these naked short sellers would stop breaking the law, Signalife would have the funds to distribute the machine to the masses on a scale of scanning every man, woman and child by 2012.”
The lawsuit is subject to no conditions precedent, injunctive relief is planned, and the suit will be expanded to include families who were victimized by the injurious conduct of the defendants and their leaders as alleged in the complaint.
For a copy of the lawsuit, actual shareholders or members of the press are invited to contact Signalife’s counsel. Of course, all lawsuits are public record in any event.
About Signalife
Signalife, Inc. is a life sciences company focused on the monitoring, detection and prevention of disease through continuous biomedical signal monitoring. Signalife uses its patented signal technology to design and develop medical devices, therapies and/or technologies that simplify and reduce the costs of cardiovascular disease.
Signalife, Inc. is traded on the American Stock Exchange under the symbol SGN. More information is located at www.signalife.com . Clear Data. Trusted Results.
Caution Regarding Forward-Looking Statements
Statements in this release that are not strictly historical are "forward- looking" statements. Forward-looking statements involve known and unknown risks, which may cause the companies’ actual results in the future to differ materially from expected results. Factors which could cause or contribute to such differences include, but are not limited to, failure to complete the development and introduction of heart monitoring and other biomedical devices incorporating the companies’ technology procure market acceptance for these products, failure to obtain federal or state or governmental or international regulatory approvals governing heart monitoring and other biomedical devices incorporating the technology, failure to obtain import and export capabilities in the various countries containing buyers and resellers and hospitals and clinics and doctors for the devices, inability to obtain physician, patient or insurance acceptance of or for heart monitoring and other biomedical incorporating of the technologies, and the unavailability of financing to complete management's plans and objectives, including the development of heart monitoring and other biomedical and information solutions incorporating the companies’ technologies. There is no guarantee that Signalife will win these lawsuits, and lawsuits involve risks. These risks are qualified in their entirety by cautionary language and risk factors set forth and to be further described in Signalife's filings with the Securities and Exchange Commission.
Media Contact:
John Woodbury, Counsel
403-217-5332
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Source: Signalife, Inc.
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