Universal Express Commends Bloomberg on Naked Short Selling Expose'
NEW YORK--Universal Express Inc. (OTCBB: USXP), commends Bloomberg on its Naked Short Selling expose' entitled, "Phantom Shares, Failed Trades, and Naked Shorts, which appeared on March 13, 2007 on Bloomberg.com and aired on Bloomberg TV last night at 7:00pm, 9:00pm and 10:00pm EST. (http://www.bloomberg.com/avp/avp.htm?clipSRC=mms:// media2.bloomberg.com/cache/vvwOfsv1ObC0.asf) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
Bloomberg's Michael Schneider reports on the practice of naked short selling, its impact on companies and efforts to combat abuses. Naked short selling involves selling stocks short without ever borrowing the shares, meaning sellers can place unlimited sales orders to drive down a company's stock.
"The issue of Naked Short Selling is becoming a more mainstream topic amongst companies, investors and investigative reporters. Those who say it does not exist need only look at reports such as the one broadcast by Bloomberg or listen to CEO's of companies who are being damaged by this issue such as ourselves. We commend Bloomberg for its bravery and foresight in bringing this issue more into perspective and into the light," said Richard A. Altomare.
Mr. Altomare's recent speech on Naked Short Selling can be viewed at: http://www.usxp.com/nss/richardaltomarenss.wmv
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.
Contacts
Universal Express, Inc.
Mark Falk, 561-367-6177
publicrelations@usxp.com
Bloomberg's Michael Schneider reports on the practice of naked short selling, its impact on companies and efforts to combat abuses. Naked short selling involves selling stocks short without ever borrowing the shares, meaning sellers can place unlimited sales orders to drive down a company's stock.
"The issue of Naked Short Selling is becoming a more mainstream topic amongst companies, investors and investigative reporters. Those who say it does not exist need only look at reports such as the one broadcast by Bloomberg or listen to CEO's of companies who are being damaged by this issue such as ourselves. We commend Bloomberg for its bravery and foresight in bringing this issue more into perspective and into the light," said Richard A. Altomare.
Mr. Altomare's recent speech on Naked Short Selling can be viewed at: http://www.usxp.com/nss/richardaltomarenss.wmv
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.
Contacts
Universal Express, Inc.
Mark Falk, 561-367-6177
publicrelations@usxp.com
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