PRESS RELEASE
WECOSIGN
Files Suit in Federal Court Against Eight Defendants for
RICO Act Violations, Trademark Infringement, and False Designation
of Origin
August 18, 2010
SANTA ANA, Calif., Aug. 18 /PRNewswire-FirstCall/ -- WECOSIGN
Inc. ("WECOSIGN") (OTC Bulletin Board: WECS) announced
today that it has filed a lawsuit in Federal District Court
to uncover and terminate various enterprises infringing on
its registered WECOSIGN® mark. The lawsuit alleges "RICO
Act Violations, Trademark Infringement, False Designation
of Origin, and Cyberpiracy against eight named individual
defendants," says Carlos Padilla, WECOSIGN's CTO.
As WECOSIGN alleges in its complaint, the company became
aware of an operation designed to collect money from consumers
under the name and mark "WECOSIGNUSA," promising
repayment guarantees for automobile contracts, mortgages,
and apartment leases. The enterprise appears to be supported
by a variety of associated companies in several cities,
all operating under the name "WECOSIGNUSA."
WECOSIGN engaged a team of private investigators to look
into this matter. "Our initial mission was simply to
get this group to stop using our name, but the further we
went, the worse it looked," Padilla explained. "Fortunately
we have some of the best attorneys in the country in this
field, and they have been a huge factor in the successful
protection of our Intellectual Property. Knobbe Martens
Olson & Bear, LLP, are doing a superb job, and we could
not be happier," says Padilla.
WECOSIGN was founded on the principle of helping honest
people find a place to live. The company created the concept
of serving as a rental guarantor and cultivated that concept
into a viable business, and now there are malicious characters
attempting to make a quick and dishonest buck in this young
and volatile market. Padilla says that most business rating
agencies are no help with consumers because many of the
companies seeking the appearance of legitimacy today can
simply "buy their ratings." When these supposedly
legitimate businesses create professional websites to back
up their claims, it is no surprise that many hard-working
consumers fall victim to these elaborate scams. "This
marketplace needs to be watched very carefully," cautions
Padilla. "It's like the Wild West out there on the
Internet. There is the potential for a lot of money to be
stolen by seemingly trustworthy companies, who one day unplug
their server and are gone forever, along with the money
they collected."
Padilla is particularly troubled by some of the things
that he sees in the current rental guarantor market. "Stealing
money from honest consumers who are looking for help is
despicable. It can be difficult for consumers to know where
to put their money when they're looking for these services
on the Internet, but we will continue to maintain our position
as the industry leader by promising and delivering uncompromising
honesty and integrity. Furthermore, we will aggressively
pursue any and all attempts to infringe on our Intellectual
Property or to damage our hard-earned spotless reputation."
Certain statements in this communication may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements
relate to a variety of matters, including but not limited
to: the operations of the businesses of WECOSIGN Inc. separately
and as an entity; the timing and consummation of any mentioned
proposed transaction; the expected benefits of the integration
of the company; the combined company's plans, objectives,
expectations and intentions and other statements that are
not historical fact. These statements are made on the basis
of the current beliefs, expectations and assumptions of
the management of WECOSIGN regarding future events and are
subject to significant risks and uncertainty. Investors
are cautioned not to place undue reliance on any such forward-looking
statements, which speak only as of the date they are made.
WECOSIGN neither undertakes, any obligation to update or
revise these statements, whether as a result of new information,
future events or otherwise. Actual results may differ materially
from those expressed or implied. SOURCE WECOSIGN Inc.
For more info, please email info@wecosign.com
