Advantage files lawsuit against Guthy-Renker Corp., Revlon Consumer Products, Tristar Products, and others.IRVINE, Calif.--(BUSINESS WIRE)--May 4, 1995--Advantage Life Products Inc., (NASDAQ:ADVT ADVT - Advance Development Verification Test ADVT - Advertisement ADVT - Advertising (college course)), filed a lawsuit Thursday in Los Angeles County Superior Court against Guthy-Renker Corp., Revlon Consumer Products Corp., Revlon General Wig, TriStar Products Inc., American Telecast Corp., First Class Marketing Inc. as well as William Guthy and Gregory Renker as individuals. The lawsuit names several causes of action against various named defendants, including, but not limited to Breach of Contract, Conversion, Deceit, Constructive Fraud constructive fraud n. when the circumstances show that someone's actions gives him/her an unfair advantage over another by unfair means (lying or not telling a buyer about defects in a product, for example), the court may decide from the methods used and the result that it should treat the situation as if there was actual fraud even if all the technical elements of fraud have not been proven. (See: constructive), Misappropriation of Trade Secrets, Interference with Economic Relationship and RICO Violations. In 1994, Advantage launched an innovative hair extension product into the limelight with a successful infomercial. The complaint alleges that Advantage has been "cut-out" of the picture since becoming involved with Guthy-Renker, TriStar, Revlon General Wig, and others. Advantage's claims against Guthy-Renker Corp. arise out of the Advantage/Guthy-Renker joint venture to produce, market and distribute the Jose Eber Secret Hair(tm) line of hair extension products. Advantage has alleged, among other things, that Guthy-Renker wrongfully retained joint venture assets and profits, denied Advantage its licensee and contractual rights to the product and otherwise misappropriated confidential product trade and proprietary information. Advantage is also seeking damages from Guthy-Renker Corp. and additional named parties for their respective participation in a scheme to defraud Advantage of economic benefits arising from certain rights related to Secret Hair and Revlon(r) Unforgettable Hair(tm), a derivative hair extension product, as well as other named defendants for marketing and distributing Ultimate Hair(tm), another hair extension product sold in such a way so as to confuse the public that it is associated with the Secret Hair line of products. Advantage is seeking damages in excess of $3,000,000, declaratory relief and injunctive relief. CONTACT: Advantage Life Product, Inc., Irvine Jim Stapleton, 714/752-2797 ext. 212 |
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