DALLAS, June 16, 2000 (PRIMEZONE) -- The general counsel for Basic Capital Management, Inc. said Friday that BCM has absolutely no involvement in the allegations involving Gene Phillips and A. Cal Rossi, who stepped aside from the company following the announcement of their federal indictment on Wednesday.
"Every person here was caught totally flat-footed by the indictment," said Robert A. Waldman, Senior Vice President and General Counsel for the private company. "Any hint or insinuation of BCM or the companies it advises having involvement in the activities being investigated is just not true. In addition, we have not been notified by federal authorities of any charges against BCM or the companies it advises, and we are continuing to operate as normally as possible."
Basic Capital Management, Inc. is a Dallas-based real estate advisory company. For more information on the company, go to the web site at www.bcm-inc.com.