Decision Diagnostics Takes Litigation Financing of Anti-Trust and False Advertising Claims Against J&J
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Decision Diagnostics Corp. (OTCQB: DECN), the exclusive worldwide sales, service and regulatory processes agent for the popular Shasta GenStrip™, the unique Green Glucose Test Strip, specifically designed to work with the Johnson & Johnson’s LifeScan Ultra family of glucose testing meters, today announced that that the Company has executed a Terms Agreement with a major east coast based litigation prosecution fund for the financing of the prosecution of DECN’s countersuits brought against LifeScan, Inc., a division of Johnson and Johnson, Inc. DECN has asserted claims for anti-trust violations and false advertising.
“The antitrust prosecution, if successful, carries with it a possible award of triple damages,” said Keith Berman, DECN’s Principal Executive Officer and the GenStrip Program Director. Mr. Berman further observed, “In our case, we are pursuing two prizes simultaneously, first the prosecution of our anti-trust and false advertising claims for J&J’s anti-competitive behavior throughout our dispute, and secondly, we will assemble our arguments and begin a process of collecting on the damages we have suffered as the result of the J&J patent litigation on which the Court of Appeals for the Federal Circuit has ruled favorably for DECN. This higher court ruling offers DECN an opportunity to begin prosecution efforts, an upcoming attack as some have called it, on the $12.7 million court ordered litigation bond. Our litigation financing partner has put up a substantial pool of capital specifically to assist us in achieving significant positive outcomes for these prosecutions.”
Read original articleTags: DECN, J&J Decision Diagnostics Corp., Johnson & Johnson
