BEAUMONT, Texas, April 13 /PRNewswire-FirstCall/ -- The Board of Directors of FIRSTPLUS Financial Group, Inc. ("Company") (Pink Sheets: FPFX) announced the Company has suspended a distribution to shareholders of certain funds held by Bank of New York Mellon.
The Company has been ordered by the Second Judicial Court of Washoe County, Nevada to pay into the registry of that Court the proceeds of a planned distribution to shareholders, pending outcome of a lawsuit filed by certain shareholders. Robert O'Neal, President and Chairman, commented, "We are disappointed by the initial order of the Nevada Court. This repeated cause of action by a few shareholders has been quite expensive for FIRSTPLUS shareholders in many more ways than just legal fees. Not only has this repeated action by these same few shareholders harmed and impeded the Company's progress, it repeatedly ties up funds ready for current shareholder distribution."
FIRSTPLUS Financial Group, Inc.
CONTACT: Todd Hickman, +1-409-893-5232, press@brandmktgmr.com, for
FIRSTPLUS Financial Group, Inc.
