LITTLE FALLS, NJ--(Marketwire - June 09, 2011) - Regenicin, Inc. (OTCBB: RGIN) announced today that an arrangement has been reached between the Company and its former president, Mr. Joseph Connell, to dismiss the Company and members of its board of directors from the lawsuit he brought, now pending in the US District Court for the Southern District of New York. The Company in turn has agreed to dismiss its current action against Mr. Connell pending in the United States District Court for the District of Nevada. The New York action will thus continue between Mr. Connell and Mr. McCoy only.
Reflecting on these pending dismissals, Mr. McCoy commented: "This matter is, and has always been, between Mr. Connell and myself, so I'm very pleased to have it formally resolved for our Company, our Board and all our Shareholders. Going forward, this allows us to more efficiently take the actions we need to take to make the company a success and reach our joint goals."
About Regenicin, Inc.
Regenicin, Inc. is a biotechnology company with corporate headquarters in Little Falls, New Jersey. The Company specializes in the development of regenerative cell therapies to restore the health of damaged tissues and organs.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the future press releases of Regenicin, Inc.