ChromaDex Statement Regarding the October 9th Order in the Central District of California Litigation
October 11 2019 - 6:30AM
ChromaDex Corp. (NASDAQ:CDXC) issued the following statement.
We would like to take this opportunity to comment on the latest
order from the California court regarding the ongoing litigation
with Elysium. This started as a breach of contract matter and then
a patent infringement case. Through discovery, we learned of
egregious behavior by Elysium related to the theft of trade secrets
and confidential information including text messages revealing
unethical conduct and a stated intention to “destroy”
ChromaDex.
In his order, the judge seeks additional information about how
ChromaDex was damaged by the theft, and we look forward to
answering his questions. Elysium’s actions are in stark contrast to
the image it attempts to portray. We encourage its customers,
investors, and advisors to digest the public record that reveals
the true character and conduct of those leading that company.
ChromaDex will also continue to aggressively enforce its
intellectual property rights in the pending infringement case
regarding patents Elysium unsuccessfully challenged before the US
Patent & Trademark Office (USPTO).
Since the start of the California litigation, ChromaDex has
become the global consumer brand leader in nicotinamide riboside.
We accomplished this by being committed to safety, science and
research, and partnering with world-class global CPG and retail
business leaders. With more than $35 million invested in patents,
science and safety, ChromaDex has secured regulatory approvals from
governments around the world including the USFDA, European Food
Safety Authority (EFSA), and Health Canada.
About ChromaDex:ChromaDex Corp. is a
science-based integrated nutraceutical company devoted to improving
the way people age. ChromaDex scientists partner with leading
universities and research institutions worldwide to uncover the
full potential of NAD and identify and develop novel, science-based
ingredients. Its flagship ingredient, NIAGEN® nicotinamide
riboside, sold directly to consumers as TRU NIAGEN®, is backed with
clinical and scientific research, as well as extensive IP
protection. TRU NIAGEN® is helping the world AGE BETTER®. ChromaDex
maintains a website at www.chromadex.com to which ChromaDex
regularly posts copies of its press releases as well as additional
and financial information about the Company.
Important Note on Forward Looking
Statements:
This statement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities and Exchange Act of 1934, as
amended. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Such
statements include statements regarding the nature of the
California litigation, the evidence that ChromaDex will submit in
the California litigation, ChromaDex’s litigation strategy in the
California, Delaware and USPTO litigation and building global
expansion and the global Tru Niagen brand. Other risks that
contribute to the uncertain nature of the forward-looking
statements are reported in our most recent Forms 10-Q and 10-K as
filed with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof, and actual results may differ materially from
those suggested by these forward-looking statements. All
forward-looking statements are qualified in their entirety by this
cautionary statement and ChromaDex undertakes no obligation to
revise or update this statement to reflect events or circumstances
after the date hereof.
ChromaDex Media Contact:Alex Worsham, Senior
Director of Global Corporate Communications310-388-6706 ext.
689alexw@chromadex.com
ChromaDex Investor Relations Contact:Brianna
Gerber, Vice President of FP&A and Investor
Relations949-419-0288 ext. 127briannag@chromadex.com
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