FALLS CHURCH, Va., Nov. 22, 2004 (PRIMEZONE) -- NewsUSA filed a complaint against Financial NewsUSA, Inc. (Pink Sheets:FNWU) in Fairfax Circuit Court in Virginia, alleging misappropriation of the NewsUSA trademarked name. NewsUSA seeks an order compelling Financial NewsUSA to change its name, as well as $200,000 in damages. "NewsUSA has filed a lawsuit to protect its name and itself," stated its CEO, Rick Smith. Financial NewsUSA is now seeking equity capital and is listed on the over-the-counter markets, according to its website. "If Financial NewsUSA continues to try to have a national business, the risk of liability, and risk of confusion with NewsUSA, grows," stated NewsUSA's attorney, George Doumar. Internet-based websites like Financial NewsUSA have a worldwide reach, heightening their risk of legal exposure, as well as confusion with longstanding businesses.
"I once did a start up and simply changed the name after I was advised of a conflict with an established company," said Don Rose, President of Global Media Fund.
Websites displaying the name Financial NewsUSA should cease at once to avoid possible legal exposure for any and all continued losses from continued support of this confusion.
Some sites and companies being reviewed for possible legal action include MacReport.net, blogspot.com, ifsjobs.com, Monster Investment Club, Air Rover Wi-Fi (OTCBB:AVWF), U.S. BioDefense (OTCBB:USBDF), Traders Nation, M2presswire, Comtex and Financial Relations, Inc.
NewsUSA (newsusa.com) guarantees to place client stories as editorial news in thousands of U.S. newspapers and radio stations. The firm writes to Client approval, distributes, places and supplies physical third party tearsheets and reports to prove successful placements. With over 4.6 million story placements for 2,200 plus clients from Best Buy to Dole to Fidelity Investments to VISA they can make and back their placement guarantees, and have for 17 years. Affiliates and independent sales representatives are also sought.
Global Media Fund (media4equity.com) invests multi-million dollar blocks of media publicity in cash starved, emerging companies for a 5% stake. With over $2.3 billion already placed on behalf of over 1,000 client companies a sales agent can sign up today and start earning commissions and referral bonuses on companies and or other affiliates that they refer.