Regenicin, Inc. (RGIN.OB) Announces Dismissal of Lawsuit
09 Junio 2011 - 8:48AM
Marketwired
Regenicin, Inc (OTCBB: RGIN) announced today that an agreement was
reach between the company and its former president Mr. Joseph
Connell. The parties agreed to dismiss the company and the board of
directors which were named in the lawsuit pending in the US
District Court for the Southern District of New York. The company
in turn has dismissed its action against Mr. Connell currently
pending in the United States District Court for the District of
Nevada.
There will be a continued action pending by and between Mr.
Connell and Mr. McCoy, the current CEO. This dispute is anticipated
to be settled. The parties recognize this was a partnership dispute
and agreed that Regenicin, its board and shareholders should not be
affected by this matter. Regencin is taking proactive measures to
ensure the success of the company going forward.
Mr. McCoy commented, "Mr. Connell and I had a previous business
partnership separate and away from Regenicin. This matter is and
has always been between the individual parties so I'm very pleased
to have the matter formally resolved for our company and the
board."
About Regenicin, Inc.
Regenicin, Inc. is a biotechnology company with corporate
headquarters in Little Falls, New Jersey. The Company specializes
in the development of regenerative cell therapies to restore the
health of damaged tissues and organs.
Safe Harbor
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934,
which are intended to be covered by the safe harbors created
thereby. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, including, without
limitation, the future press releases of Regenicin, Inc.
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Contact: Randall McCoy Email Contact
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