PRESS RELEASE 6/3/2019 Sector 10, Inc. (OTC Bulletin Board: SECI)
2019 Shareholder / Investor updates:
The company announced today that as of May 30th, 2019, it has not reached a decision or appointed counsel in the pursuit of a RICO (Racketeer Influenced and Corrupt Organizations Act) in Federal Courts based on evidence it collected in 2018.
Sector 10 has cleared conflicts and received proposals from two multi-national legal teams and, is currently considering those proposals very carefully.
Management is also considering funding options as the RICO case will be a considerable undertaking, predicted to last approximately 2 years at a cost of over $1 Million.
Considerations may include funding in whole or in part by current qualified investors and/or some form of a contingency arrangement with legal counsel. Management wants to protect the interests of its shareholders first and foremost, especially those that have hung in there so long.
The company was also recently referred and advised to seek counsel from Preet Bharara, Former United States Attorney for the Southern District of New York and other experts as to the complexities of the case and how to best address the potentially high-profile parties involved.
We ask our shareholders to please be patient as we look to having full announcements as to the Legal Team and potential RICO filling later this summer.
Updates on the Utah Case, Case No. 119907606, Salt Lake City County, State of Utah. Depositions are scheduled to start in late June as discovery is underway.
Continued updates will be published on:
Sector10.com: News and press releases on legal activities and court progress.
Whitecollarfacades.com: Introduction, timeline of events, and new evidence as it becomes available and verified.
About Sector 10
Sector 10 has been in litigation to recover damages from a technology theft and laundry operation that delivered Sector 10 technology into the hands of then ADT/TYCO, causing the largest market cap increase in their history. The lawsuit was filed in a Utah Court against ADT/TYCO acquired subsidiary Proximex Corporation as well as Valley Inception LLC, Incisive Software Corporation, Trusys Inc, Dutro Company, Reality Engineering Inc, and individuals.
Safe Harbor Statement:
This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or development that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are subject to a number of assumptions, risks and, uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual results to differ materially from those implied or expressed by the forward-looking statements. The Company assumes no duty whatsoever to update these forward-looking statements or to conform them to future events or developments.
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