Nanophase Responds To Filing Of Class Action Suit
June 8, 1998 03:03 PM
BURR RIDGE, Ill., June 8 /PRNewswire/ -- Nanophase Technologies Corporation NANX announced today that it is aware that the Company, and certain officers and directors have been named as defendants in a class action lawsuit filed on June 4, 1998 with the United States District Court for the Northern District of Illinois, purportedly on behalf of purchasers of the Company's common stock from November 26, 1997 through January 8, 1998.
The Company has examined a copy of the complaint and believes that the suit is entirely without merit. Nanophase intends to contest the action vigorously.
Nanophase Technologies Corporation develops and markets engineered advanced materials for a variety of product applications in the electronics, structural ceramics, cosmetics, and industrial catalysts industries. Using proprietary technology to alter materials at the molecular level, the Company creates products with unique performance attributes. The Company's global customer base includes a number of Fortune 500 companies. Nanophase trades on the Nasdaq NMS under the symbol "NANX." Visit the Company's Web site at www.nanophase.com.
Statements contained in this news release that are not historical facts are forward looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results for future periods to differ materially from those expressed in this news release. These important factors include, without limitation: demand for, and acceptance of, the Company's nanocrystalline materials; changes in development and distribution relationships; the impact of competitive products and technologies; and other risks indicated in the Company's Annual Report on Form 10-K for the year ended December 31, 1997, as filed with the Securities and Exchange Commission. Nanophase undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.
SOURCE Nanophase Technologies Corporation
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