Samaritan Victorious -- Awarded Summary Judgment Wins $100,000 Cash Bond Posted by Alfred T. Sapse.Business Editors LAS VEGAS--(BUSINESS WIRE)--Nov. 5, 2001 Permanent Injunction permanent injunction n. a final order of a court that a person or entity refrain from certain activities permanently or take certain actions (usually to correct a nuisance) until completed. Against Sapse Ordering Him Not to Compete With Samaritan by Developing, Marketing or Distributing Any Product Containing the Same or Similar Formula Used In ANTICORT(TM) Samaritan Pharmaceuticals, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SPHC), today announced it was victorious in winning a second Summary Judgment against Alfred T. Sapse thereby resolving all claims against the Company. The Court is usually reluctant to grant a "summary judgment" but it is granted when there is no genuine issue as to material fact and the moving party is entitled to prevail as a matter of law. In addition, the Court referred this matter to a Discovery Commissioner who affirmed that a summary judgment should be granted. Previously, in an effort to put this 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. behind the Company, Samaritan's Board of Directors decided to submit the subject matter of this lawsuit to the shareholders for approval at the annual meeting on April 24, 2001. At this Annual Meeting, the shareholders spoke loud and clear when they ratified the Board and all proposals by a 98% margin. Still, Sapse persisted. "It is the opinion of the Company, Sapse's intention was to maliciously harass harass (either harris or huh-rass) v. systematic and/or continual unwanted and annoying pestering, which often includes threats and demands. This can include lewd or offensive remarks, sexual advances, threatening telephone calls from collection agencies, hassling by Samaritan by bringing this frivolous lawsuit. We are well aware of the fact that no one really wins in a lawsuit, but, we had to do everything humanly hu·man·ly adv. 1. In a human way. 2. Within the scope of human means, capabilities, or powers: not humanly possible. 3. possible to protect our shareholders' investments," stated Dr. Janet Greeson, 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 Samaritan. Samaritan won a $100,000 judgment against a cash bond posted by Sapse. Moreover, previously, the Court ordered Sapse to pay Samaritan's attorney fees and costs in bringing a "Motion for Contempt" where Sapse violated the Court's order not to compete with Samaritan. The Court also went on to order its Temporary Injunction temporary injunction n. a court order prohibiting an action by a party to a lawsuit until there has been a trial or other court action. A temporary injunction differs from a "temporary restraining order" which is a short-term, stop-gap injunction issued pending a on Sapse Permanent, ordering him not to compete with Samaritan by developing, marketing or distributing any product containing the same or similar formula used in ANTICORT(TM). The Court further ordered Sapse not to disclose any facts regarding the composition of ANTICORT(TM) or any information regarding the research, testing or experimentation conducted during the formulation or testing of ANTICORT(TM), to any third parties. Eugene Boyle, CFO See Chief Financial Officer. of Samaritan, stated, "This second summary judgment confirms the disputed factual issues presented in the pleading were illusory and unpersuasive." Dr. Janet Greeson, CEO expressed, "I want to applaud all the shareholders that gave us their inspiring support. Your confidence in management is valued and we look forward to making your belief in Samaritan a reality." About Samaritan Pharmaceuticals: Samaritan Pharmaceuticals is a biopharmaceutical company focused on bringing drug candidates to market for the indications of Alzheimer's, Cancer, and HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. for the benefit of humanity. Samaritan's drug, ANTICORT(TM) completed late stage FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. Phase Ib/IIa Clinical human trials for HIV at the LA Aids Research Alliance and plans to submit its final "study report" to the FDA early 2002. Samaritan and Georgetown University Georgetown University, in the Georgetown section of Washington, D.C.; Jesuit; coeducational; founded 1789 by John Carroll, chartered 1815, inc. 1844. Its law and medical schools are noteworthy, and its archives are especially rich in letters and manuscripts by and signed a seven-year research collaboration to discover, develop, and commercialize novel therapies for Alzheimer's and Cancer. Samaritan has a patent portfolio of two anticortisol patents plus four exclusively licensed patented drug candidates, with a diagnostic for Alzheimer's and Breast Cancer from Georgetown University. Samaritan has expanded its drug portfolio beyond ANTICORT(TM) and identified drug candidates for Alzheimer's and other neurodegenerative disorders, now in pre-clinical trials. Samaritan has a small burn rate to survive a bear market and its financial partner is Fusion Capital with an equity line of $20 million giving Samaritan capital to fund its clinical trials for several years. Hit register to receive future news releases automatically or for more information visit: www.samaritanpharmaceuticals.com This release contains statements about the future that could differ from actual results. The statements are subject to risk and uncertainties, including but not limited to, the impact of competition, fluctuations in stock price and liquidity, fluctuating operating results and other risks as detailed in the company's filings with the SEC. |
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