Medi-Hut Co., Inc. (MHUT) Announces Settlements Of Civil Lawsuits Against Kinray, Inc. And Santi Greco And Former Officers Laurence M. Simon And Lawrence P. Marasco
10/19/2005 5:12:32 PM
SPRING LAKE, N.J.--(BUSINESS WIRE)--Jan. 20, 2005--Medi-Hut Co., Inc. ("Medi-Hut" or the "Company") announced today that on January 19, 2005 the Company finalized a settlement agreement and release in connection with its action against Kinray, Inc., a New York based pharmaceutical distributor, and its officer, Santi Greco. This action was part of the litigation commenced in December 2003 in the Superior Court of the State of New Jersey, Monmouth County, Law Division, Medi-Hut Co., Inc. v. Joseph A. Sanpietro, et al. (Docket No. MON-L-5471-03). As part of the settlement, Kinray, Inc. agreed to pay to the Company the sum of $300,000. This settlement was entered into without any admission of liability or any inferences of wrongdoing by any settling party.