Star Scientific Statement on Status of Patent Infringement Lawsuit Against RJ Reynolds Tobacco
December 01 2009 - 12:12PM
PR Newswire (US)
PETERSBURG, Va., Dec. 1 /PRNewswire-FirstCall/ -- Star Scientific,
Inc. (NASDAQ:CIGX) issued the following statement this morning by
Paul L. Perito, Esq., the company's Chairman, President and Chief
Operating Officer: (Logo:
http://www.newscom.com/cgi-bin/prnh/20090317/STARSCIENTIFICLOGO )
"We were advised by counsel late yesterday that RJ Reynolds Tobacco
(RJR) had filed a Motion for Attorneys Fees and Excess Costs, as
well as a Bill of Costs, with the US District Court for Maryland.
We believe that this action by RJR in moving for attorneys fees,
after a full trial on the merits, is completely frivolous and
vexatious. The District Court has not yet ruled on the company's
Motion for Judgment as a Matter of Law or, in the Alternative, a
New Trial and no final judgment has been entered in the case. The
premature timing of the motion for fees and costs therefore, makes
the motion even more suspect. The company and counsel are exploring
all options with respect to this motion, including seeking
affirmative relief, based on the fact that the motion is utterly
without either merit or any reasonable legal basis." This press
release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Star Scientific, Inc. and its consolidated subsidiaries (
collectively, the "Company") has tried, whenever possible, to
identify these forward-looking statements using words such as
"anticipates", "believes", "estimates", "expects", "plans",
"intends" and similar expressions. These statements reflect the
Company's current beliefs and are based upon information currently
available to it. Accordingly, such forward-looking statements
involve known and unknown risks, uncertainties and other factors
which could cause the Company's actual results, performance or
achievements to differ materially from those expressed in, or
implied by, such statements. These risks, uncertainties and
contingencies include, without limitation, the challenges inherent
in new product development initiatives, the uncertainties inherent
in the progress of scientific research, the Company's ability to
raise additional capital in the future necessary to maintain its
business, potential disputes concerning the Company's intellectual
property, risks associated with litigation regarding such
intellectual property, potential delays in obtaining any necessary
government approvals of the Company's low-TSNA tobacco products,
market acceptance of the Company's new smokeless tobacco products,
competition from companies with greater resources than the Company,
the Company's decision not to join the Master Settlement Agreement
("MSA"), the effect of state statutes adopted under the MSA, and
the Company's dependence on key employees and on its strategic
relationships with Brown & Williamson Tobacco Corporation in
light of its combination with RJ Reynolds Tobacco Company, Inc. The
impact of potential litigation, if initiated against or by
individual states that have adopted the MSA, could be materially
adverse to the Company. Although the Company believes the
expectations reflected in such forward-looking statements are based
on reasonable assumptions, it can give no assurance that the
expectations will be attained or that any deviation will not be
material. See additional discussion under "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December
31, 2008, as filed with the SEC on March 16, 2009, and other
factors detailed from time to time in the Company's other filings
with the SEC, available at http://www.sec.gov/. All information in
this release is current as of this date and the Company undertakes
no obligation to update or advise upon any such forward-looking
statements to reflect events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events. See Star's website at: http://www.starscientific.com/ About
Star Scientific Star Scientific is a technology-oriented tobacco
company with a toxin reduction mission. It is engaged in the
development of dissolvable smokeless tobacco products that deliver
fewer carcinogenic toxins (principally tobacco specific
nitrosamines, or TSNAs), through the utilization of the innovative
StarCured® tobacco curing technology, and in sublicensing that
technology to others. Star Scientific has a Corporate and Sales
Office in Petersburg, VA, an Executive, Scientific & Regulatory
Affairs office in Bethesda, MD, and manufacturing facilities in
Chase City, VA. Contact: Sara Troy Machir Vice President,
Communications & Investor Relations (301) 654-8300
http://www.newscom.com/cgi-bin/prnh/20090317/STARSCIENTIFICLOGO
http://photoarchive.ap.org/ DATASOURCE: Star Scientific, Inc.
CONTACT: Sara Troy Machir, Vice President, Communications &
Investor Relations of Star Scientific, Inc., +1-301-654-8300, Web
Site: http://www.starscientific.com/
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