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Old 01-26-2005, 09:19 PM
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Default Collectors Universe (PSA) Settles with Real Legends

Posted By: Bottom of the Ninth

At the conclusion of today's testimony by Joe Orlando, Collectors Universe settled before the matter was handed to the jury. Apparently Orlando was not even able to admit that PSA has a grading room. You can expect most of his testimony to be without merit. Steve Rocchi and Mike Baker's testimony over the last two days was also too damaging.

According to CU's financial statement footnotes, the suit was for $4,000,000.00, although counsel for Real Legends says they were not suing for that much. Real Legends ended up getting $600,000.00 and the public ends up getting the chance to see all court transcripts and hear what really happened with WIWAG. CU tried to get a non disclosure agreement but since they are publicly traded it was denied.

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