FORT WORTH, Texas, June 5, 2012 /PRNewswire/ -- Wound Management Technologies, Inc., (OTCQB: WNDM | WNDM.PK), CEO and President Robert Lutz, Jr. responds to recent complaint from Security and Exchange Commission.
Mr. Lutz was quoted as saying, "The Company learned yesterday via a press release that it has been named as a defendant in a civil complaint filed by the Securities Exchange Commission (the "SEC"). The Complaint alleges certain fraudulent schemes and market manipulation activities from at least July - November 2009 involving the Company's former Chief Executive Officer and Chairman of the Board, Scott A. Haire. Current management of the Company (which does not include Mr. Haire) was not aware of any such allegations by the SEC and has not discussed this matter with the SEC."
Mr. Robert H. Lutz. Jr. was elected as the Chairman of the Board and Chief Executive Officer of the Company in March 2012, and Mr. Haire has had no operating involvement with the Company since such time. The Company will engage legal counsel to assist it in investigating and handling the SEC Complaint.
About Wound Management Technologies, Inc.
Wound Management Technologies, Inc. is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management's primary focus is the distribution of its unique, patented collagen product, CellerateRX®, which is FDA cleared and reimbursable under Medicare Part B. Wound Management has other advanced biotech products in development including a patented resorbable bone wax line that is in late stages of development, as well as a subsidiary focused on technology for secure healthcare data collaboration and storage. More information can be found on the company's web sites: http://www.wmgtech.com and http://www.celleraterx.com.
Safe Harbor Statement:
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
For Wound Management Technologies Shareholder Information please call (800) 205-7719 or visit http://www.wmgtech.com
For Further Information:
Shareholder Relations-Communications (800) 205-7719
SOURCE Wound Management Technologies, Inc.