REYKJAVIK, Iceland, June 14 /PRNewswire-FirstCall/ -- deCODE genetics today announced that it has reached a favorable settlement of its litigation in Federal District Court in Philadelphia with the Children’s Hospital of Philadelphia (CHOP) and several former deCODE employees who left the company to work for CHOP. Pursuant to the agreement, the parties will exchange mutual releases and the litigation will be dismissed with prejudice. The litigation was settled with an agreement under which CHOP and the individual defendants have certain obligations towards deCODE.
deCODE’s CEO Dr. Kari Stefansson commented on the settlement as follows: “I am pleased that we have managed to settle this case with the Children’s Hospital of Philadelphia, which has a history of being a noble institution that serves its community with distinction.”
Any statements contained in this presentation that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements. These risks and uncertainties include, among others, those relating to technology and product development, integration of acquired businesses, market acceptance, government regulation and regulatory approval processes, intellectual property rights and litigation, dependence on collaborative relationships, ability to obtain financing, competitive products, industry trends and other risks identified in deCODE’s filings with the Securities and Exchange Commission. deCODE undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.
Contact: deCODE genetics Edward Farmer Joy Bessenger +1 212 343 2819 +1 212 481 3891 edward.farmer@decode.isir@decode.is
deCODE genetics
CONTACT: Edward Farmer, +1-212-343-2819, or edward.farmer@decode.is, orJoy Bessenger, +1-212-481-3891, or ir@decode.is, both of deCODE genetics
