YP.Net™ (OTC BB: YPNT), a leading provider of Internet Yellow Pages and related services, announced today that New Horizon Capital has dropped all claims against Angelo Tullo, YP.Net's chairman and chief executive officer.
According to New Horizon Capital LLC, the decision to drop Tullo from the lawsuit was based upon the availability of new information concerning the testimony of several defendants in the case. "It became abundantly clear that the testimony of Mr. Tullo's former associates at American Business Funding Corp. was false in many instances," said Eric Atencio, managing member of New Horizon Capital LLC, successor in interest to American Business Funding Corp.
