New York, NY – April 9, 2008 – Westwood One (NYSE: WON) today responded to the April 9, 2008 press release issued by Pompano Helicopters, Inc. that falsely characterized its lawsuit against Westwood One pending in the United States District Court for the Southern District of Florida.
Pompano Helicopters formerly provided aircraft services to Westwood One’s subsidiary, Metro Networks,
pursuant to several contracts that were terminated in 2000 and 2001. In October 2007, Pompano
Helicopters filed a Complaint against Westwood One. The Complaint’s principal claim is that, in May 2000,
Westwood One supposedly interfered with a possible sale of Pompano Helicopters’ assets to a third party.
Westwood One responded to the Complaint with a motion to dismiss, arguing that the allegations of the
Complaint were barred by the four- and two-year statutes of limitations applicable to Pompano Helicopters’
claims. Judge William J. Zloch issued his decision on that motion on April 3, 2008, dismissing three counts
of the Complaint as time-barred, including the claim pertaining to the supposed sale of Pompano Helicopters’
assets. The Court invited a future motion for summary judgment to determine whether the remaining counts
are also barred by the statute of limitations, after discovery has clarified when the conduct at issue in those
counts occurred. A copy of Judge Zloch’s opinion can be found on the Westwood One company website by
clicking the following link: http://www.westwoodone.com/pg/jsp/aboutus/pressreleases.jsp.
Pompano Helicopters’ press release falsely states that its lawsuit seeks “$362 million” in damages. In fact,
for the now-dismissed asset-sale count, the Complaint sought less than $6 million in damages. The
remaining counts of the Complaint have no claims for actual damages, aside from an allegation that they
seek, in the aggregate, “in excess of” $60,000 in compensatory damages. Moreover, Judge Zloch did not
find that Pompano Helicopters had “provided sufficient cause for the lawsuit to be brought to trial.” Instead,
Judge Zloch dismissed three counts of the Complaint and invited a future summary judgment motion to
address the remaining counts.
The case has not yet entered discovery. Westwood One believes that the remaining claims in the Complaint
are without merit and it intends to defend the litigation vigorously. Westwood One is also evaluating its legal
options with respect to the false statements in the Pompano Helicopters’ release.
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