Dianon System Inc. announces settlement and dismissal of litigation instituted by Diagnostic Technologies, Inc.STRATFORD, Conn.--(BUSINESS WIRE)--Dec. 1, 1995--Richard A. Sandberg, Chairman of the Board of DIANON Systems, 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 : DIAN) announced today that litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. instituted by Diagnostic Technologies, Inc. in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Central District of California, has been dismissed by stipulation in the United States District Court for the District of Connecticut The United States District Court for the District of Connecticut is the Federal district court whose jurisdiction is the state of Connecticut. The court has offices in Bridgeport, Hartford and New Haven. , to which the suit had been removed. In connection with the dismissal, DIANON and Diagnostic Technologies have entered into a settlement agreement wherein Diagnostic Technologies has released DIANON from the claims asserted by Diagnostic Technologies for breach of contract, reliance and interference with business advantage. Diagnostic Technologies had sought damages from DIANON in amounts in excess of $10,000,000. Pursuant to the terms of the settlement agreement, DIANON will pay Diagnostic Technologies a one-time, lump-sum payment of $150,000. DIANON Systems, Inc. is a leading provider of specialized cancer and genetic testing Genetic Testing Definition A genetic test examines the genetic information contained inside a person's cells, called DNA, to determine if that person has or will develop a certain disease or could pass a disease to his or her offspring. services and integrated information products to cancer treating physicians, cancer diagnosis specialists and managed care organizations. CONTACT: Richard A. Sandberg Chairman of the Board DIANON Systems, Inc. 203/381-4022 |
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