Monday October 5, 12:07 pm Eastern Time
Company Press Release
Pollution Research and Control Corp. Announces Filing of Lawsuit Against Turbodyne Technologies Inc.
GLENDALE, Calif.--(BUSINESS WIRE)--Oct. 5, 1998--Pollution Research and Control Corp. (Nasdaq:PRCC - news) Monday announced that it has filed a lawsuit in Los Angeles Superior Court against Turbodyne Technologies Inc. (''Turbodyne'') (Nasdaq:TRBD - news).
The company alleges that Turbodyne breached an agreement to purchase the company's two subsidiaries, Dasibi Environmental Corp. and Logan Medical Devices Inc., when it wrongfully repudiated the agreement shortly after signing and delivering it.
The complaint alleges that Turbodyne's actions constituted breach of contract, a breach of the covenant of good faith and fair dealing, intentional interference with prospective business advantage and negligent interference with prospective business advantage.
The complaint seeks compensatory damages in excess of $2 million, punitive damages, declaratory relief, and the appointment of a special master to oversee the deliberations of Turbodyne's board of directors regarding this matter.
Pollution Research and Control primarily designs, manufactures and markets air pollution measurement instruments and medical instrumentation, nationally and internationally, through its wholly owned subsidiaries Dasibi Environmental and Logan Medical Devices.
--------------------------------------------------------------------------------
Contact:
Pollution Research and Control Corp., Glendale
Albert E. Gosselin Jr., 818/247-7601
or
Phoenix Alliance Inc.
Phil Huss, 970/259-7241
|
