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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI
CCSI 29.42+0.3%3:59 PM EST
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To: Gurupup who wrote (2577)6/9/1998 8:24:00 PM
From: gamesmistress  Read Replies (4) of 5736
 
CHROMATICS COLOR SCIENCES TO RESPOND TO FALSE ALLEGATIONS

This came out at 8:16. May be too little, too late...they should have come out with this early this afternoon.

NEW YORK, June 9 /PRNewswire/ -- Chromatics Color Sciences
International, Inc. (Nasdaq: CCSI) today said that it would release
shortly a detailed response to the numerous false allegations relating
to the company, its product, the existing market size and other related
matters contained in a report issued by Asensio & Company, Inc., a firm
that is engaged in short selling activities.

Given the nature of the false allegations and misrepresentations
contained in the Asensio report, Chromatics plans to issue specific,
detailed factual information refuting such false allegations. The
response will be consistent with the Company's prior public statements
on its innovative, patented, FDA-cleared Colormate(TM) Tlc-BiliTest(TM)
for non-invasive detection and monitoring of bilirubin infant jaundice,
as well as the size of the existing market for monitoring bilirubin
infant jaundice.

Chromatics also said that it had contacted the Securities and Exchange
Commission Enforcement Agency and Nasdaq concerning the recent trading
of its securities and related activities by Asensio. Furthermore, the
Company said that it was exploring taking all available legal actions.
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