Celsion Wins Lawsuit and Court Decides the Company is Entitled to $100,000.COLUMBIA, Md.--(BW HealthWire)--Dec. 23, 1998--Celsion Corporation (OTC BB: CELN) today announced that the U.S. District Court of Maryland found in favor of the Company regarding a lawsuit filed by Eastwell Management Services, Ltd. for $250,000 In a related decision the U.S. District Court of Maryland also found in favor of Celsion regarding its countersuit coun·ter·sue tr.v. coun·ter·sued, coun·ter·su·ing, coun·ter·sues Law To bring proceedings against (a plaintiff) in direct opposition to a suit brought against onself. , concluding that Celsion is entitled to $100,000 from Eastwell Management Services which breached the original contract between the two parties. Celsion reported that it will pursue all legally possible avenues to collect the $100,000 from Eastwell Management Services. Celsion Corporation is a research and development company dedicated to commercializing medical treatment systems for cancer and benign prostatic hyperplasia benign prostatic hyperplasia n. Abbr. BPH A nonmalignant enlargement of the prostate gland commonly occurring in men after the age of 50, and sometimes leading to compression of the urethra and obstruction of the flow of urine. (BPH) using focused heat delivered by several patented microwave technologies. Clinicals and further development of Celsion's systems are being conducted by leading institutions such as the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , Massachusetts General Hospital Massachusetts General Hospital Health care The major teaching hospital for Harvard Medical School, widely regarded as one of the best health care centers in the world , Montefiore Medical Center Montefiore Medical Center, in the Bronx, New York, is the university hospital of the Albert Einstein College of Medicine. The hospital, named after Moses Montefiore, is one of the 50 largest employers in New York State [1]. , and Duke University in the United States, and Hammersmith Hospital and Oxford University in England. 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 risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, and regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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