Pac-West Enters Into Settlement Related to Various Claims and Disputes With SBC California
29 Juli 2004 - 5:13AM
PR Newswire (US)
Pac-West Enters Into Settlement Related to Various Claims and
Disputes With SBC California STOCKTON, Calif., July 28
/PRNewswire-FirstCall/ -- Pac-West Telecomm, Inc. (NASDAQ:PACW), a
provider of broadband communications services to service providers
and enterprise customers in the western U.S., today announced that
it has entered into a Settlement Agreement with SBC California
providing for the resolution of various claims and disputes. On
July 28, 2004, Pac-West entered into a Settlement Agreement with
SBC California regarding various disputes each party had with the
other party's invoices for charges billed in prior periods through
June 1st. Under the terms of the Settlement Agreement, SBC
California agreed to pay Pac-West $4.8 million. About Pac-West
Telecomm, Inc. Founded in 1980 and first incorporated in 1981,
Pac-West Telecomm, Inc. has been offering telephone service to its
customers since 1982. Pac-West is currently one of the largest
competitive local exchange carriers headquartered in California.
Pac-West's network averages over 120 million minutes of voice and
data traffic per day, and carries an estimated 20% of the dial-up
Internet traffic in California. In addition to California, Pac-West
has operations in Nevada, Washington, Arizona, and Oregon. For more
information, please visit Pac-West's website at
http://www.pacwest.com/. Forward-Looking Statements In this press
release, our use of the words "outlook," "expect," "anticipate,"
"estimate," "forecast," "project," "likely," "objective," "plan,"
"designed," "goal," "target," and similar expressions is intended
to identify forward-looking statements. While these statements
represent our current judgment on what the future may hold, and we
believe these judgments are reasonable, actual results may differ
materially due to numerous important risk factors that are
described in our Annual Report on Form 10-K for the period ended
December 31, 2003, as filed with the SEC on March 30, 2004, which
may be revised or supplemented in subsequent reports filed by us
with the SEC. Such risk factors include, but are not limited to:
our substantial indebtedness; an inability to generate sufficient
cash to service our indebtedness; regulatory and legal uncertainty
with respect to intercarrier compensation payments received by us;
the declining rate at which intercarrier compensation payments are
determined; the inability to expand our business as a result of the
unavailability of funds to do so; adverse affects on our operations
as a result of covenants in agreements related to our borrowings;
the loss of key executive officers could negatively impact our
business prospects; the possible delisting of our common shares
from the Nasdaq SmallCap Market; and our principal competitors for
local services and potential additional competitors have advantages
that may adversely affect our ability to compete with them.
DATASOURCE: Pac-West Telecomm, Inc. CONTACT: Reid Cox of Pac-West
Telecomm, Inc., +1-209-926-3417, or Web site:
http://www.pacwest.com/
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