District Court Issues Final Judgment - Retractable Technologies, Inc., et. al. v. Becton, Dickinson and Co.
19 August 2017 - 5:28AM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP), (“RTI”)
reports that on August 17, 2017, Judge Amos L. Mazzant of the
United States District Court for the Eastern District of Texas
issued the Court’s Final Judgment regarding RTI’s suit against
Becton, Dickinson and Co. (“BD”). The Judgment orders that RTI take
nothing in its suit against BD and dismisses the case.
The Court was asked to address whether RTI is entitled to an
award of BD’s profits as an equitable remedy under the Lanham Act.
The Court acknowledged in its Findings of Fact and Conclusions of
Law, also filed on August 17, 2017, that BD violated the Lanham
Act, but stated that the “previously ordered injunctive relief
adequately achieves equity between the parties.” The injunctive
relief referenced by the Court relates to an earlier court order
requiring BD to notify certain persons that its needle sharpness
and waste space comparison claims were falsely advertised.
RTI is considering its options, which include a motion for a new
trial or to amend the judgment and appeal to the Fifth Circuit
Court of Appeals. Alternatively, RTI could take no action, which
would end the litigation by RTI against BD stemming from a
complaint filed in 2007.
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products and the EasyPoint® needle. The
VanishPoint® syringe, blood collection, and IV catheter products
are designed to prevent needlestick injuries and product reuse by
retracting the needle directly from the patient, effectively
reducing exposure to the contaminated needle. Patient Safe®
syringes are uniquely designed to reduce the risk of bloodstream
infections resulting from catheter hub contamination. The
EasyPoint® is a retractable needle that can be used with luer lock
syringes, luer slip syringes, and prefilled syringes to give
injections. The EasyPoint® needle also can be used to aspirate
fluids and for blood collection. Retractable's products are
distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at
www.retractable.com.
Forward-looking statements in this press release are made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 and reflect Retractable's current
views with respect to future events. Retractable believes that the
expectations reflected in such forward-looking statements are
accurate. However, Retractable cannot assure you that such
expectations will materialize. Actual future performance could
differ materially from such statements.
Factors that could cause or contribute to such differences
include, but are not limited to: Retractable's ability to maintain
liquidity; Retractable's maintenance of patent protection; the
impact of current and future Court decisions regarding current
litigation; Retractable's ability to maintain favorable third party
manufacturing and supplier arrangements and relationships; foreign
trade risk; Retractable's ability to quickly increase capacity in
response to an increase in demand; Retractable's ability to access
the market; Retractable's ability to maintain or lower production
costs; Retractable's ability to continue to finance research and
development as well as operations and expansion of production; the
impact of larger market players, specifically BD, in providing
devices to the safety market; and other risks and uncertainties
that are detailed from time to time in Retractable's periodic
reports filed with the U.S. Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20170818005543/en/
Retractable Technologies, Inc.Douglas W. Cowan, 888-806-2626 or
972-294-1010Vice President and Chief Financial Officer
Retractable Technologies (AMEX:RVP)
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