LOS ANGELES, Sept 20, 2002 -- Vertical Computer Systems, Inc. (OTC Bulletin Board: VCSYE - News) is pleased to announce that its motion for summary judgment in the case of Margaret Greco and the Paul Greco Family Limited Partnership vs. Vertical Computer System, Inc. was granted and the case was dismissed in its entirety. The plaintiffs had sought in excess of $18 million in damages based on the alleged increase in value of the stock since the private placement.
The court's ruling strongly favored Vertical's position and the court also noted that the plaintiff's conduct bordered on frivolous.
Vertical Computer Systems, Inc. is a multinational provider of Web services, underpinning Web technologies, and administrative software services through its Global Partners System, a worldwide distribution network. Vertical provides Web applications and services targeted at specific market needs in business and government organizations, such as emergency response, news media, procurement, education, ecommerce, and human resources. Vertical also provides underpinning Web and Internet technologies that can be leveraged across all of its target markets. Vertical's software products include the Emily(TM) XML Enabler Agent, ResponseFlash(TM), SiteFlash(TM), UniversityFlash(TM), Newsflash(TM), and the Focal Point Search Engine(TM). For more information on Vertical Computer Systems, visit the company's Web site at www.vcsy.com.
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