SIVC | S3 Investment Company, Inc. Announces Successful Settlement Of Legal Action

Penny Stocks News Roundup

Jul 25, 2008 10:00:00 AM

DANVILLE, CA -- (MARKET WIRE) -- 07/25/08 -- S3 Investment Company, Inc. (PINKSHEETS: SIVC), a holding company with subsidiary operations in the China market, today announced the successful settlement of a legal action that S3 brought against a financial services firm that had represented the company under a consulting agreement.

Specific terms are confidential, but S3 received a cash payment as part of the settlement. In addition to the cash payment, fees due from S3 to the financial services company under terms of the consulting agreement between the two parties were eliminated as were warrants that were to be granted by S3 as part of the agreement.

"We are very pleased to have achieved a successful resolution to this matter," stated Jim Bickel, chairman and chief executive officer of S3 Investment Company.