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Biotech / Medical : Moyco CMP Slurries - CEO Says
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To: Marvin Katz who wrote (476)10/22/1999 10:23:00 PM
From: straight life   of 534
 
(AND a 10% stock dividend, Marvin... tell Joe!)

Moyco Permitted to Proceed with Patent Infringement Lawsuit

MONTGOMERYVILLE, Pa., Oct. 22 /PRNewswire/ -- An Arbitrator has issued an award which will allow Moyco Technologies, Inc. (Nasdaq: MOYC - news), to proceed with a patent infringement counterclaim against Dentsply International, Inc. The patent infringement counterclaim filed in the Federal District Court for the Middle District of Pennsylvania involves inventions covering an endodontic (root canal) instrument design. The counterclaim had been stayed pending a decision by the Arbitrator.

The Arbitration hearing, administered by the American Arbitration Association, was held this summer in Tulsa, Oklahoma. The award was issued after post-hearing briefs were filed and considered. The Arbitration involved a dispute concerning a prior settlement Agreement between an entity acquired by Dentsply and Moyco.

The Arbitrator defined a specific provision of the prior settlement agreement related to a manufacturing tolerance for a non-infringing Dentsply BATT tip instrument design. The Arbitrator has allowed Dentsply a specific tolerance related to an important angle of the tip of these endodontic instruments. Moyco believes that there is a significant percentage of Dentsply instruments that fall below the allowed tolerance and are therefore subject to the patent infringement claims set forth in its counterclaim. The remaining issues relating to Moyco's claims will be decided in the Federal District Court Action.

Some statements contained in this release are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical and anticipated results or other expectations expressed herein.

SOURCE: Moyco Technologies, Inc.
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