ATG Files Lawsuit and Seeks Temporary Restraining Order to Protect Its Catalyst Technology From Infringement.Business Editors and High-Tech/Legal Writers MONROVIA, Calif.--(BUSINESS WIRE)--Oct. 30, 2000 American Technologies Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ATEG ATEG Assembly for the Teaching of English Grammar )(ATG ATG antithymocyte globulin. lymphocyte immune globulin (antithymocyte globulin equine, ATG, ATG equine, LIG) Atgam Pharmacologic class: Immunoglobulin Therapeutic class: Immunosuppressant ) Monday announced that it has filed a lawsuit against Bio-Friendly Corp., Robert Carroll, Noel Carroll, William Carroll and Shui-Yin Lo for breach of contract, fraud, intentional interference with business relationship, unfair competition, misappropriation misappropriation n. the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a dead person's estate, or by any of trade secret and conversion, among others. The action includes an application for a temporary restraining order temporary restraining order: see injunction. to prohibit the defendants from misrepresenting to the public that they developed and own the catalyst technology used in The Force(R) and Might-Tron. The complaint filed on Oct. 25, 2000, alleges in part that defendants misappropriated mis·ap·pro·pri·ate tr.v. mis·ap·pro·pri·at·ed, mis·ap·pro·pri·at·ing, mis·ap·pro·pri·ates 1. a. To appropriate wrongly: misappropriating the theories of social science. ATG's catalyst technology and subsequently produced and sold products embodying ATG's proprietary information, specifically related to its combustion enhancer. The combustion enhancer is marketed by ATG in numerous products including The Force and as a liquid bulk fuel additive. The complaint seeks in part $10 million in compensatory damages A sum of money awarded in a civil action by a court to indemnify a person for the particular loss, detriment, or injury suffered as a result of the unlawful conduct of another. plus punitive damages, attorneys' fees and equitable relief. Lawrence J. Brady, ATG's chairman and chief executive officer, said: "In a letter to the company's shareholders in June 2000, I pledged to protect ATG's technologies for the benefit of the shareholders at all costs. This action demonstrates that the ATG board of directors and management has the ability to protect and will protect what belongs to the shareholders." Included in this release are forward-looking statements which the company believes are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors. |
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