TORONTO, Aug. 11, 2008 (PRIME NEWSWIRE) -- Ofek Capital Corp. (Pink Sheets:OFEK) announces that an order dismissing a $1,000,000 counterclaim filed against Ofek and its CEO Shalom Romm has been secured.
A counterclaim filed by Norman Olshansky and 2 of his companies, Bersoti Tbf Management Ltd. and Granite Group Inc., has been dismissed by an order issued by the Ontario Superior Court.
"Although we always knew that the claims made were baseless and without merits, I believe this dismissal order dispels any contingent liability that Ofek was a subject to, since the counterclaim was filed back in January 2005. It is also a personal vindication and serves to clear any possible improper actions it was alleged I carried out," said Shalom Romm, Ofek's Chief Executive Officer.
About Ofek Capital
Ofek (www.OfekCapital.com) is an asset management company, operating through its subsidiaries.
Ofek has an investment in Kaptor Financial Inc., an Ontario-based financial services enterprise, providing merchant banking and automotive financing.
Ofek is continually evaluating acquisition prospects. Ofek expects future acquisitions to enhance its balance sheet and shareholders' value.
This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, which reflect management's expectations regarding Ofek's future growth, results of operations, performance and business prospects and opportunities. These statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Ofek and its management take no obligation to update or correct any or such forward-looking statements.