Star Scientific Statement on Status of Patent Infringement Lawsuit Against RJ Reynolds Tobacco

Share Name	Share Symbol	Market	Type
(MM)	NASDAQ:STSI	NASDAQ	Ordinary Share

(MM) (NASDAQ:STSI)
Historical Stock Chart

From Jun 2019 to Jun 2024

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/

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

STSI (MM)