Company Release - 10/26/2010 2:33 PM ET
PORT WASHINGTON, N.Y.--(BUSINESS WIRE)--
Systemax Inc. (NYSE: SYX) announced today that the Florida
Attorney General (“Florida AG”) is dismissing its complaint against the
Company and certain of its subsidiaries. The complaint related to rebate
processing activities conducted by OnRebate Inc, primarily during 2005
and 2006. The case is being dismissed pursuant to a settlement agreement
whereby the Company agreed to reimburse the AG’s office for its legal
and investigative costs and to make a charitable contribution to a
Florida-based charitable organization.
Richard Leeds, Chairman and Chief Executive Officer stated “We are
pleased to have resolved this matter. The Florida AG investigated the
matter thoroughly and found no wrongdoing on the part of the Company,
any of its subsidiaries or any of its employees.”
About Systemax Inc.
Systemax Inc. (http://www.systemax.com),
a Fortune 1000 company, sells personal computers, computer components
and supplies, consumer electronics and industrial products through a
system of branded e-Commerce web sites, retail stores, relationship
marketers and direct mail catalogs in North America and Europe. The
primary brands are TigerDirect, CompUSA, Circuit City, MISCO, WStore and
Global Industrial.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company’s performance. These statements are based on management’s
estimates, assumptions and projections and are not guarantees of future
performance. The Company assumes no obligation to update these
statements. Actual results may differ materially from results expressed
or implied in these statements as the result of risks, uncertainties and
other factors including, but not limited to: (a) unanticipated
variations in sales volume, (b) economic conditions and exchange rates,
(c) actions by competitors, (d) the continuation of key vendor
relationships, (e) the ability to maintain satisfactory loan agreements
with lenders, (f) risks associated with the delivery of merchandise to
customers utilizing common carriers, (g) the operation of the Company’s
management information systems, and (h) unanticipated legal and
administrative proceedings. Please refer to “Risk Factors” and the
Forward Looking Statements sections contained in the Company’s Form 10-K
for a more detailed explanation of the inherent limitations in such
forward-looking statements.
Source: Systemax Inc.
Contact:
INVESTOR/ MEDIA CONTACTS:
Brainerd Communicators, Inc.
Mike
Smargiassi / Nancy Zachary
212-986-6667
[email protected]
[email protected]