American Bio Medica Reports Favorable Results From U.S. District Court Hearing.HUDSON, N.Y.--(BUSINESS WIRE)--Aug. 6, 1999-- American Bio Medica medica (māˑ·dē·k Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABMC ABMC American Battle Monuments Commission ABMC Alexian Brothers Medical Center (Illinois) ABMC Aviation Battle Management Concept ABMC Arrowbear Music Camp (California) ) today reported that the United States District Court for the District of Delaware The United States District Court for the District of Delaware is the Federal district court having jurisdiction over the entire state of Delaware. The Court sits in Wilmington. Currently, three judges and two magistrate judges preside over the court. denied the requests of Phamatech, Inc. of California, Peninsula Drug Analysis Co., Inc., James Ramsey of Virginia, and Dipro Diagnostics Products of North America Inc. to throw out the Company's case filed in April 1999 alleging infringement of ABMC's patent and trademark rights and other acts of unfair competition. As a result, the Company said that all defendants originally named remain parties in the suit. The Company also reported that the Court directed a change of venue A change of venue is the legal term for moving a trial to a new location. In high-profile matters, a change of venue may occur to move a jury trial away from a location where a fair and impartial jury may not be possible due to widespread publicity about a crime and/or defendant(s) that moves the location of the trial to a federal court and jury in California. ABMC CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chairman Stan Cipkowski commented, "We are pleased by the knowledge that the validity of our claims, as well as every factual allegation of our complaint and demand for legal redress was upheld by the Court's action on the defendants' motions. In its decision to keep all parties in a single case and not have multiple trials, the Court accepted the defendants' forced offer to consent to trial in California. We now look forward to pressing the Company's claims there and putting an end to the continuing infringements by these defendants and their customers." American Bio Medica Corporation develops, manufactures, and markets inexpensive, accurate, on-site drugs of abuse diagnostic kits and support services worldwide. The Company's global distributors target the workplace, clinical, rehabilitation, physicians, corrections, and educational markets. ABMC's Rapid Drug Screen(tm) is proven to correlate 100% with the standard laboratory screening test. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic report filed with the Securities and Exchange Commission. |
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