Fort Worth, TX, April 18, 2007 (PRIME NEWSWIRE)– Vertical Computer Systems, Inc. (OTCBB: VCSY)(www.vcsy.com) announced today that Now Solutions (Now Solutions), its wholly owned subsidiary, has successfully resolved its lawsuit with Ross Systems, Inc (Ross Systems).
According to the company’s chief litigation lawyer, Derek Wolman of Snow Becker Krauss P.C., NOW Solutions was given a verdict in its breach of contract claim against Ross Systems in the net amount of $1,300,000, which was calculated after deducting all amounts due to Ross Systems pursuant to its claim under a promissory note. NOW Solutions is also entitled to receive interest and attorney’s fees on its breach of contract claim. The amount of the award is subject to a final judgment to be signed by the court.
"We are delighted with the court's ruling in this matter. This lawsuit has been a strain on NOW Solutions and VCSY in terms of time, energy and resources for over 4 years,” said Richard Wade, President and CEO of VCSY and Chairman of Now Solutions. “We can now refocus our resources towards attaining our business objectives".
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
Vertical Computer Systems, Inc. (OTCBB: VCSY) is a provider of administrative software, Internet core technologies, and derivative software application products through its distribution network. VCSY's main administrative software product is emPath®, which is developed and distributed by NOW Solutions, Inc., the Company's wholly-owned subsidiary. VCSY's primary Internet core technologies include SiteFlash, ResponseFlash, NewsFlash, and the Emily XML Scripting Language, which can be used to build web services. VCSY also markets three security products that make up its security suite (ImmuneApp, StatePointPlus® and CKM®). Information on VCSY and its products can be obtained on the World Wide Web at www.vcsy.com
NOW Solutions, Inc., a wholly owned subsidiary of Vertical Computer Systems, Inc., is a Human Resources Management System (HRMS) software and business solutions provider. A pioneer in HRMS solutions, NOW Solutions provides the capabilities companies need to manage their ever-changing workplace in the face of today's complex requirements through its main product, emPath®, which consists of a fully secure web based HRMS suite as well as a hosted solution. Recruiting, position control, benefits, absence and attendance tracking, employee reviews, career planning, payroll, employee/manager self-service and a powerful full featured workflow engine to reduce or eliminate paper, are among the many features of emPath®. NOW Solutions is a respected business partner serving customers throughout the United States and Canada. NOW Solutions' presence can be found in industries including education, for-profit services, healthcare, high technology and communications, insurance, manufacturing, natural resources, not-for-profit, public sector, retail, transportation, and utilities. NOW Solutions has offices in Fort Worth, Toronto and Brazil to serve its customers. Information on NOW Solutions and its products can be obtained on the World Wide Web at www.nowsolutions.com
Vertical Computer Systems, Inc.
NOW Solutions, Inc.
(817) 335-7667 fax
SOURCE: VERTICAL COMPUTER SYSTEMS, INC.