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Oct 29, 2003 (financialwire.net ) -- (FinancialWire) Universal Express, Inc’s (OTCBB: USXP), General Counsel, Chris G. Gunderson, disclosed that he has sent a letter to the United States Attorney in Miami requesting that the Justice Department conduct an investigation of Hugh Beck and others at the Denver Office of the United States Securities and Exchange Commission for issuing a subpoena to Universal Express. Gunderson stated it was "in retaliation for USXP taking a public position on ’naked short selling’ and also, for a continuous pattern of systematic harassment in retaliation for USXP addressing with Congress this and other important public issues." When Universal Express issued the original statement, Dow Jones Newswire writer Carole Remond raised the question as to whether the drops in stock price for Universal Express was more due to the continued dilution in the company’s continuous financing rounds. It is not known if the SEC inquiry was related to that aspect of the company’s press release on the subject. Universal Express recently terminated its coverage in Investrend Research’s unique and pioneering professional analyst program, which facilitates independent analysts to provide financial coverage for shareholders and investors in companies that otherwise would have little or no analyst following. Investrend Research analyst Jeff Howlett recently reiterated a "Speculative" rating on the company, a downgrade from the previous "Speculative Buy." Investrend Research has committed, however, to self-underwriting the company’s coverage by Howlett through the next earnings report cycle. The Investrend Research program is the largest in the world and includes a number of safeguards to reduce or eliminate conflict. These systems, including media coverage and endorsements, may be accessed at http://www.investrendresearch.comInvestrendResearch is a member of the FIRST Research Consortium at http://www.firstresearchconsortium.com,and participates in the organization’s standards development panel for independent research providers. The "Standards for Independent Research Providers" may be viewed at http://www.investrend.com/Admin/Topics/Articles/...97_1059879037.doc. The Dow Jones (DJ) Newswires has stated that independent research has been growing in credibility over the past 18 months, specifically citing Investrend Research, and the New York Times (NYT) has reported a survey by Charles Schwab & Co. (SCH) reveals an astonishing 78 percent of active stockholders now "value research from independent firms over analysis by Wall Street firms with financial ties to the companies they are rating." A survey at Investopedia reveals that 74.7% of investors say that "legitimate fee-based research is objective and useful," and 70.9% say that a company that enrolls for "legitimate fee-based research is making a positive statement about its investment potential." Complete information about any company enrolled in an Investrend shareholder empowerment platform, including those of its affiliates and independent analysts and webcasters, including disclosures and disclaimers, is available at the company’s InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes, and on each report and press release, and investors are advised to read those disclosures carefully before trading in the equities of any enrolled company. For up-to-the-minute news, features and links click on For FinancialWire audio clips, click on partner ON24 at http://www.on24news.comFinancialWireis an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on " target=new>http://www.investrend.com/contact.asp (C) 2003 financialwire.net, Inc. All rights reserved.
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