Longs didn't even bother to post this, even though mod refers to it. What kind of a thread is this?
biz.yahoo.com
Monday June 21, 2:27 pm Eastern Time
Company Press Release
SOURCE: Sabratek Corporation
Sabratek Responds to Accusations
SKOKIE, Ill., June 21 /PRNewswire/ -- Sabratek Corporation (Nasdaq: SBTK - news) announced today that it has been made aware of certain spurious accusations regarding Sabratek's business conduct, apparently arising from the claims asserted in the amended complaint that was recently filed against the Company and certain officers and directors.
In response, Sabratek Corporation's Chairman and CEO, K. Shan Padda said: ''We must keep in mind that the amended complaint contains nothing but allegations, which we believe, are wholly without merit. Our audited financial statements were prepared in accordance with generally accepted accounting principles and were audited by an international accounting firm. We stand by those financial statements.'' Mr. Padda also said that: ''In addition, Sabratek intends to pursue the sources of false accusations about the Company's accounting practices and, as appropriate, will commence appropriate legal action and/or seek injunctive relief and other compensatory damages.''
To that end, Sabratek has retained the New York law firm of Kramer, Levin, Naftalis & Frankel LLP as well as the investigative firm of Kroll Associates, and it has directed those firms to pursue false and defamatory public reports about the company.
The Sabratek Division develops, produces and markets technologically advanced, easy-to-use, smart, interactive medical devices that work seamlessly together to allow health care providers to lower health care costs, expand access, and maintain quality across the continuum of care. The ROCAP Division manufactures ready-to-use saline flush syringes that reduce error and waste while saving time and money for enhanced safety, compliance and patient care. GDS develops and manufactures advanced point-of-care blood diagnostics for multiple tests with a single device capable of fast, simple, accurate and economical results anywhere on the continuum of care. MOON Communications is the health care industry's first Internet-based, vertically integrated communications portal, which will enable real-time monitoring and reporting of a patient's clinical information from any site, including the patient's home. HEALTHMAGIC is a developer of innovative healthcare information management tools, which feature intranet/internet technology. These tools enable health care providers to realize significant operational and clinical management efficiencies as well as providing patients and their families the ability to monitor and manage their own health. The CMS subsidiary offers managed care and provider services to health care payors -- including utilization review, provider credentialing and network development -- that enable delivery systems to be managed more efficiency and with higher quality. The LifeWatch division utilizes smart devices to monitor patients transtelephonically in alternate site settings. LifeWatch offers these services to healthcare providers and is the market leader in arrhythmia monitoring. |
