PRECLUDES MILLER FROM SEEKING STATUTORY DAMAGES OF $10.5 MILLION

NEWPORT BEACH, Calif. — Collectors Universe, Inc. reported that on April 23, 2008, the California Supreme Court denied William Miller’s petition for review of the Appellate Court’s decision, issued in February 2008, that Miller is not entitled to statutory damages of $10.5 million against Collectors Universe.

As previously reported, Miller had argued that he was entitled, under California law, to statutorily prescribed damages of $750 for each alleged use of his name by Collectors Universe without his consent and that, since a jury at the trial of the case found that Miller’s name appeared on 14,060 authentication certificates issued by Collectors Universe, he was entitled to statutory damages of $750.00 times 14,060, or approximately $10.5 million in total. The Appellate Court ruled, instead, that the use of his name constituted, at most, a single violation of the statute in question and, therefore, Miller was entitled to no more than $750.00 in statutory damages. Miller then filed a petition with the California Supreme Court seeking a review by that Court of the Appellate Court’s decision.

As a result of the Supreme Court’s action to deny a review of the Appellate Court’s decision, if Miller decides to pursue his claims once again, his only option would be to file, on or before July 7, 2008 for a new trial to reinstate his statutory and common law claims as well as his claim for punitive damages. In any such new trial he would first have to prove that Collectors Universe violated his statutory or common law rights and, even if he succeeded in doing so, he would have to show how, if at all, he was damaged. He would not, however, be entitled to multiply $750.00 by the number of times, if any, that Collectors Universe used his name without his consent, as his measure of damages. The Company cannot predict whether Miller will seek a new trial.

Related posts:

1. Appellate Court Grants Rehearing in Collectors Universe – William Miller Case
2. Appellate Court Rules in Miller Case: Rejects Miller’s Claim to Statutory Damages of $10.5 Million
3. Appellate Court Rules in Miller Case
4. Shamrock Activist Value Fund Urges Immediate Sale of Collectors Universe, Inc.
5. Collectors Universe CEO Michael Haynes to Depart April 1, 2009
6. Collectors Universe Sells PCGS Currency Division
7. Collectors Universe to Present at the 10th Annual Needham Growth Conference on January 9th
8. Two Directors of Collectors Universe Achieve Certified Professional Director Designation
9. Collectors Universe Declares Quarterly Cash Dividend of $0.25 per Common Share
10. Collectors Universe Reports Results for Second Quarter Ended December 31, 2007