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Biotech / Medical : AFFYMETRIX (AFFX) -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (1650)	11/19/2003 11:36:29 AM
From: tuck	Read Replies (1) \| Respond to of 1728

Bernard, I had missed this because the AFFX headline response was worded "Affymetrix to continue to supply labeling reagents." Should have been suspicious. The headline said nothing about being the subject of a lawsuit -- which seeks injunctive relief, among other things. The long brewing dispute with Enzo heads for litigation: >>FARMINGDALE, N.Y.--(BUSINESS WIRE)--Oct. 28, 2003--Enzo Biochem, Inc. (NYSE:ENZ - News) announced today that its subsidiary, Enzo Life Sciences, Inc. ("Enzo") has terminated its agreement with Affymetrix, Inc. ("Affymetrix") and filed a lawsuit against Affymetrix in the U.S. District Court for the Eastern District of New York. The Complaint charges that Affymetrix breached its agreement with Enzo by, among other things, misappropriating Enzo assets, and manufacturing and selling Enzo products in violation of the terms of the agreement. The lawsuit was filed, Enzo said, after unsuccessful lengthy negotiations to resolve these and other issues. In the Complaint, Enzo alleges that Affymetrix improperly transferred or distributed substantial business assets of Enzo to third parties, including portions of the Company's proprietary technology, instruments, reagent systems, detection reagents and other intellectual property. The Complaint also charges that Affymetrix failed to account for certain shortfalls in sales of Enzo's products or to reimburse Enzo for unauthorized manufacturing and sale of its products, and that Affymetrix improperly induced collaborators and customers to use Enzo products in unauthorized fields or otherwise in violation of the agreement. The Complaint seeks full compensation from Affymetrix to Enzo for its substantial damages, in addition to injunctive and declaratory relief to prohibit, among other things, Affymetrix's unauthorized use, development, manufacture, sale, distribution and transfer of Enzo's products, technology, and/or intellectual property, as well as to prohibit Affymetrix from inducing collaborators, joint venture partners, customers and other third parties to use Enzo products in violation of the terms of the agreement and Enzo's rights. << snip It would be worth finding out the timing of hearings and the like, especially as they relate to an injunction. Perhaps I can recruit one of SI's legal eagles/biofreaks. Cheers, Tuck