CLCT Collectors Universe Inc

NEWPORT BEACH, Calif., Oct. 15 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (NASDAQ:CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, and dealers of diamonds and colored gemstones, reported that effective as of October 14, 2008, William Miller and the Company executed a settlement and release agreement which provides for a complete release by each party of all known and unknown claims it has or may have against the other relating to or arising out of the subject matter of the lawsuit that Miller had brought against the Company in 2004 in which he sought alleged statutory damages from the Company of up to approximately $10.5 million based on a claim that the Company had used his name, allegedly without his consent, on Company authentication certificates. The released claims include pending claims brought by each party seeking to recover its legal fees and expenses in that lawsuit from the other party. As previously reported, Miller had argued that (i) he was entitled, under California law, to statutorily prescribed damages of $750 for each alleged use of his name by Collectors Universe without his consent and (ii) as a matter of law he was entitled to statutory damages of $750.00 times 14,060, or approximately $10.5 million in total, based on a finding by the jury, in the trial of the case, that Miller's name appeared on 14,060 authentication certificates issued by Collectors Universe. The Appellate Court ruled, instead, that even if Miller could prove that his name was used, without his consent, on all 14,060 authentication certificates, such use would constitute, at most, a single violation of the statute in question and, therefore, Miller could recover no more than a total of $750.00 in statutory damages and any actual damages he could prove, at trial, that he actually incurred as a result of the Company's alleged use, without his consent, of his name on any authentication certificates. Miller then filed a petition with the California Supreme Court asking that Court to review and overturn the Appellate Court's decision. The Supreme Court denied Miller's petition. "This is the end of the Miller case and we are pleased that the Courts have consistently agreed with our position in the matter," stated Michael Haynes, Chief Executive Officer. "Collectors Universe will continue to aggressively defend any claims from any source, including those sources that would disagree, for their own gain, with our independent, third party view of authenticity and quality." About Collectors Universe Collectors Universe, Inc. is a leading provider of value added services to the high-value collectibles and diamond and colored gemstones markets. The Company authenticates and grades collectible coins, sports cards, autographs, stamps, currency, diamonds and colored gemstones. The Company also compiles and publishes authoritative information about United States and world coins, collectible sports cards and sports memorabilia, collectible stamps, diamonds and colored gemstones. This information is accessible to collectors and dealers at the Company's web site, http://www.collectors.com/, and is also published in print. Contact: Joseph Wallace Brandi Piacente Chief Financial Officer Investor Relations Collectors Universe The Piacente Group, Inc. 949-567-1245 212-481-2050 Email: Email: DATASOURCE: Collectors Universe, Inc. CONTACT: Joseph Wallace, Chief Financial Officer of Collectors Universe, +1-949-567-1245, ; or Brandi Piacente, Investor Relations, The Piacente Group, Inc., +1-212-481-2050, , for Collectors Universe Web site: http://www.collectors.com/

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