Innovatech Surgical, Inc. Counter Sues Synergetics, Inc. for Unfair Competition, Trade Libel, Injurious Falsehood, and Tortious Interference with Business Relationships.CAMDEN Camden, borough, Greater London, England Camden, inner borough (1991 pop. 170,500) of Greater London, SE England. Within the borough, residential Hampstead is popular with writers and artists. , N.J. -- Innovatech Surgical, Inc., located within the Rutgers Camden Technology Campus, has filed suit against Synergetics, Inc., of St. Charles, Missouri, for unfair competition, trade libel, injurious falsehood A fallacious statement that causes intentional damage to an individual's commercial or economic relations. Any type of defamatory remark, either written or spoken, that causes pecuniary loss to an individual through disparagement of a particular business dealing. , and tortious interference Tortious interference, in the common law of tort, occurs when a person intentionally damages the plaintiff's contractual or other business relationships. This tort is broadly divided into two categories, one specific to contractual relationships (irrespective of whether they with business relationships. Synergetics is the firm which may merge with Valley Forge Scientific Corp., of Oaks, PA (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 : VLFG: BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). : VLF (Very Low Frequency) See low radiation. ). Attorney for Innovatech, Greg Upchurch of Husch & Eppenberger says, "We believe Synergetics' tactics are causing irreparable injury Any harm or loss that is not easily repaired, restored, or compensated by monetary damages. A serious wrong, generally of a repeated and continuing nature, that has an equitable remedy of injunctive relief. to Innovatech, including loss of sales and customers, thus causing Innovatech to sustain monetary damages." Innovatech Surgical develops, markets and sells microsurgical instruments for vitreoretinal surgery. Innovatech is suing based on information that Synergetics falsely portrays Innovatech's products as being unsafe and inferior copies of Synergetics' products. In addition to Synergetics making false claims as to Innovatech's original and proprietary designs, Innovatech states that Synergetics has engaged in the theft of Innovatech products from Innovatech's clients. Synergetics personnel have also given false and misleading statements about their own products and about Innovatech to negatively influence customers from buying Innovatech products. Innovatech is also filing suit in response to claims made by Synergetics asserting claims of trade secret misappropriation misappropriation n. the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a dead person's estate, or by any against two of its officers. Synergetics has claimed that Innovatech's products incorporate trade secrets belonging to Synergetics when in fact Synergetics possesses no such trade secrets, according to the suit. Additionally, Innovatech alleges that the founders of Synergetics have used drawings from a previous employer to develop some of their own product line. "Innovatech designs and develops its own surgical devices in conjunction with vitreoretinal surgeons. We have received an extraordinary response to the value of our products by the surgical community," says Michael J. McGowan, Sr., president of Innovatech. "If Synergetics thinks they are going to put us out of business that is not going to happen." states McGowan. About INNOVATECH SURGICAL: Innovatech Surgical is a New Jersey based specification developer of microsurgical instruments for ophthalmic surgery. For further Information, contact Shawn Mullen, Director of Business Development at 856-225-1201 or visit the company's website at www.innovatechsurgical.com. About SYNERGETICS: Synergetics is a manufacturer of surgical devices, located in St. Charles, MO. Plans have been announced to merge with Valley Forge Scientific Corp., Oaks, PA (NASDAQ: VLFG: BSE: VLF). |
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