Amadeusz Juskowiak

dale burdett inc faces damage claim

Dale Burdett Inc said it faces damages claims totalling about 420000 dlrs from the former owners of Burdett Publications Inc

The company said on February 20 1986 its predecessor Nolex Development Inc acquired Burdett Publications Inc in an exchange of 17 mln common shares for all Burdett Publications shares but the transaction was not qualified with the California Department of Corporations

As a result it said the former Burdett Publications owners have a claim for damages against Dale Burdett as successor to Nolex for one yuear starting January 21 1987 with the damages measured by the difference in values of shares exchanged plus interest from February 20 1986