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Bionovo, Inc.
Bionovo Announces Arbitration Decision in Lawsuit Filed by Former Officer - All Claims Denied
June 28th, 2009
Bionovo, Inc. (NASDAQ:BNVI) announced that an arbitration decision issued on June 10, 2009 has denied all claims against the company and its founders, Drs. Isaac Cohen and Mary Tagliaferri. The decision was in reference to a suit filed by former Chief Financial Officer James P. Stapleton, alleging fraud, negligent misrepresentation and breach of oral contract stemming from Mr. Stapleton's separation from Bionovo. The binding arbitration took place on May 11 and 12, 2009, before Sherman W. Smith, Jr., JAMS. "It is unfortunate that this arbitration was necessary at all. We are pleased that we have prevailed on all of the issues presented," said Isaac...
Source: Pharma Investments, Ventures & Law Weekly (2009-06-28)
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