New York Appellate Court Rules Against Allied Healthcare Products in Stuyvesant Falls Power Covenant Lawsuit

ST. LOUIS, April 4, 2016 /PRNewswire/ -- On March 31, 2016, the New York Supreme Court, Appellate Division, ruled against Allied Healthcare Products, Inc. (NASDAQ: AHPI) ("Allied") in ongoing litigation regarding covenants which Allied asserts entitle it to free electrical power at its Stuyvesant Falls production facility.  In doing so, the New York Supreme Court granted summary judgment to Allied's opponents and reversed an earlier trial court decision which had ruled in favor of Allied.

Allied is disappointed in this ruling and is evaluating its options to enforce the free power covenants which have been in place for over 100 years.

Allied manufactures a variety of respiratory products used in the healthcare industry in a range of hospital and alternate care settings including sub-acute facilities, home healthcare and emergency medical care. Allied product lines include respiratory care products, medical gas equipment and emergency medical products. Allied products are marketed to hospitals, hospital equipment dealers, hospital construction contractors, home healthcare dealers and emergency medical product dealers.

 

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SOURCE Allied Healthcare Products, Inc.

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