Landslide Victory for National Home Auction as Federal Judge Denies 12 of REDC's 13 Claims Seeking Injunctive Relief

LOS ANGELES, May 24 /PRNewswire/ -- "DENIED" was the word of the day as U.S. District Court Judge, S. James Otero DENIED 12 of the 13 claims seeking injunctive relief as issued in an Order dated May 21, 2008.

"REDC and its principals have a long and storied history of reckless behavior and filing meritless lawsuits," said Ryan Knott, CEO of National Home Auction (NHA). "They have gone to great lengths to prevent fair competition with a single focus to monopolize the auction industry which ultimately hurts assets sellers and consumers alike."

In his ruling, Judge S. James Otero DENIED claim after claim brought in REDC's attempt to stifle competition including:

Copyright Infringement -- "REDC has not shown a fair chance of success on the merits on its television copyright claims. Request DENIED."

Purchase Agreement and Terms & Conditions -- "REDC has failed to demonstrate substantial similarity let alone identical copying. Request DENIED."

False and Misleading Advertising -- "The use of marketing terms objected to by REDC fall into the category of non-actionable. Request DENIED."

Unfair Business Competition -- "The court finds insufficient evidence by REDC to support a finding of success on the merits of case. Request DENIED."

In conclusion, after denying 12 of 13 claims, Judge S. James Otero ordered NHA to stop using a small amount of content in the "How it Works" section of the NHA website which has been complied with.

"A recent press release issued by their litigation counsel on the pending litigation between REDC and NHA as well as their continued interference in NHA's business, specifically, the dissemination of false information on NHA's business and performance metrics proves what a foolish group we are dealing with," Knott Stated. "One would think they would be far more concerned with how they plan on reconciling the state and federal complaints recently leveled by both NHA and JCR advertising. These claims, unlike their own, have real damages, not only against them, but very likely against IMPAC Mortgage and other shareholders in REDC as well."

First Call Analyst:
FCMN Contact:

Source: National Home Auction

CONTACT: Ryan R. Knott, CEO, +1-949-202-4580, rknott@nhacauctions.com

Web site: http://www.homeauctiondirect.com/

2008-05-24 19:18:53 0369995 PRNEWSWIRE