Clean Coal Technologies Announces Legal Action against Allegedly Libelous Short Sellers
Clean Coal's Management Has Chosen to Pursue All Legal Remedies Available to Hold Those Making False and Misleading Statements Accountable
NEW YORK, Jun 13, 2012 (BUSINESS WIRE) -- Clean Coal Technologies, Inc. (OTCQB: CCTC) (PINK: CCTC), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning fuel, has initiated a civil action against Adam G. Segal, and various other John Doe defendants for allegedly libelous and defamatory remarks made publicly regarding Clean Coal Technologies and its officers. The action was filed in the Ouray District Court in Ouray, Colorado on June 8, 2012.
Commenting on the development, Robin Eves, CEO of Clean Coal Technologies, Inc., stated, "In August 2010, shortly after becoming CEO, I instructed our Director of Corporate Security, Rocky J. Lapomardo, B.S., M.Ed CFE PA, to investigate persons believed to be defaming the company with false and misleading statements through public online message boards including Yahoo Finance Message Boards, Investors Hub, and Clean Coal Scam Blog. After considerable analysis, it is also believed the defendants may have participated in short sales of CCTC, damaging the underlying value of the company and interfering with its ability to obtain financing and strategic alliances.
"We have chosen to pursue all legal remedies available to us in making these alleged perpetrators accountable," continued Mr. Eves. "We owe it to our shareholders to be proactive in defending the reputation and value of Clean Coal Technologies."
The summons may be reviewed in its entirety, by navigating to: http://www.trilogy-capital.com/autoir/cctc_autoir.html