04:07 PM ET 01/07/98
A lawsuit seeking class-action status was filed against CAPRIUS INC, an imaging systems company, in the United States District Court for the District of Massachusetts, a law firm representing plaintiffs said Wednesday. The suit was filed on behalf of all persons and entities who purchased or otherwise acquired the common stock of Caprius, formerly known as Advanced NMR Systems Inc, during the period August 10, 1994, through and including December 12, 1997, said the law firm of Berman, DeValerio & Pease LLP in a news release. (Reuters 02:10 PM ET 01/07/98) (Reuters 04:07 PM ET 01/07/98)
The suit alleges that Advanced NMR made false and misleading statements and omitted from disclosure material facts about the company's publicly reported revenues and sales projections, the law firm said.
The suit claims that, as a result of these actions, the company materially overstated its revenues and the projected sales of its principal product, the Instascan System.
Officials at the Boston court were not immediately available to confirm receipt of the case.
Jack Nelson, Caprius's chairman and chief executive officer said he sees no merit to the suit.
"We'll defend ourselves vigorously," Nelson said in an interview from the company's Wilmington, Mass. headquarters.
Advanced Mammography Systems Inc merged with Advanced NMR Systems Inc Novemeber 10 to form Caprius. The company's products are used for medical imaging.
((--New York News Desk 212 859-1700))
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