Derma Sciences announces dismissal of $27,000,000 anti-trust claim.OLD FORGE, Pa.--(BUSINESS WIRE)--Oct. 18, 1995--DERMA SCIENCES, INC. (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 : DSCI DSCI Decision Science DSCI Digital Serial Communications Interface DSCI Doctor of the Science of Creative Intelligence (Maharishi European Research University) DSCI Days Since Co-Op Incident ) (BSE/PSE: DMS) today announced that Judge Herman J. Weber, United States District Court for the Southern District of Ohio The United States District Court for the Southern District of Ohio is one of two United States district courts in Ohio and includes forty-eight of the state's eighty-eight counties. , Western Division, dismissed with prejudice the $27,000,000 anti-trust claim filed by Morgan Paris, Inc. ("Morgan Paris") against the Company. Morgan Paris, one of the Company's former master distributors, had filed a civil action against the Company in September 1994, alleging that the Company violated the Sherman Anti-Trust Act The Sherman Anti-Trust Act of 1890 (15 U.S.C.A. §§ 1 et seq.), the first and most significant of the U.S. antitrust laws, was signed into law by President Benjamin Harrison and is named after its primary supporter, Ohio Senator John and the Ohio Valentine Act and that it breached the Master Distributorship Agreement between Morgan Paris and the Company. Contractual claims and the Company's counterclaims remain to be adjudicated. John T. Borthwick, President and 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. of DERMA der·ma n. See dermis. derma the corium, or true skin. SCIENCES, INC., stated, "We have always considered Morgan Paris' anti-trust allegations (as well as its contractual claims) to be meritless. We are certainly pleased that the Court has, in summary fashion, concurred with our assessment of the anti-trust aspects of these proceedings. We anticipate a similar favorable result relative to Morgan Paris' remaining claims." DERMA SCIENCES, INC. is engaged in the development, marketing and sale of primarily proprietary sprays, ointments and dressings for the management of certain chronic non-healing skin ulcerations Ulcerations Breaks in skin or mucous membranes that are often accompanied by loss of tissue on the surface. Mentioned in: Hypersplenism such as pressure and venous ulcers, surgical incisions and burns. The Company markets its products through independent distributors, mainly to healthcare providers to the geriatric community such as nursing homes, similar extended care facilities, hospitals and home healthcare agencies throughout the United States. In addition, DERMA SCIENCES, INC. products are available in selected markets throughout the world through strategic alliances with local companies. CONTACT: Derma Sciences Inc., Old Forge John T. Borthwick, 717/457-1232 or L.G. Zangani Inc. Leonardo G. Zangani, 908/788-9660 |
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