Paradigm Tactical Products Files 5 Million Dollar Lawsuit Against ACG, Inc.
September 04 2008 - 9:15AM
Business Wire
Paradigm Tactical Products Inc. (Other OTC:PDGT.PK - News), a
leading provider of detection technology and homeland security
solutions to the military as well as to the corrections, law
enforcement and security industry filed a complaint for damages
against ACG Security Group, Inc. as a result of an alleged breach
of contract by ACG. These allegations arise from the purported
failure of ACG to deliver rights to a patent for a certain
radiation detection technology. Paradigm paid ACG monies for the
right to acquire and market a patent which ACG claimed to own but
failed to deliver. We now believe and intend to demonstrate that
ACG never owned the patent which they sold to Paradigm. Paradigm
was contacted by the developer of the patent who indicated that ACG
was not the rightful owner of the patent. Management intends to put
forth substantial evidence in trial to support its claim for
damages. The Company has since developed its own technology using
competing and superior components which it is successfully
marketing both domestically and internationally. Management
believes that it will not only make significant sales of its
radiation detection technology but also recover substantial damages
for the alleged fraudulent activity by ACG leading to a
considerable increase in shareholder value. About Paradigm Tactical
Products Paradigm Tactical, based in Georgetown, Massachusetts, is
a leading provider of detection technology and homeland security
solutions to the military as well as corrections, law enforcement
and security industry. The Company owns rights to license,
manufacture, market, and sell all of its devices. As the heightened
attentiveness to terrorist and other security threats continue to
increase, Paradigm Tactical is meeting the higher demand for
security and inspection systems. The Company has sold products to
numerous Federal, State, and local institutions. For more
information: http://www.Paradigmglobalproducts.com Safe Harbor
Statement from Paradigm Tactical Products, Inc.: Statements in this
press release concerning the Company's business outlook or future
economic performance, anticipated profitability, revenues, expenses
or other financial items, and network or service offering growth,
together with other statements that are not historical facts, are
"forward-looking statements" as that term is defined under the
Federal Securities Laws. Any forward-looking statements are
estimates, reflecting the best judgment of the party making such
statements based upon currently available information and involve a
number of risks and uncertainties, including the timing of any
expansion of the Company's database, and other factors which could
cause actual results to differ materially from those stated in such
statements. Risks, uncertainties and factors which could affect the
accuracy of such forward-looking statements are identified in the
public filings made by the Company with the Securities and Exchange
Commission, and forward-looking statements contained in this press
release or in other public statements of the Company should be
considered in light of those factors.