ProPhase Labs (PRPH) Reports Positive Verdict in Ongoing Phosphagenics Arbitration
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ProPhase Labs Reports Arbitration Decision In Phusion Laboratories/Phosphagenics Dispute
November 16, 2016 4:30 PM ESTDOYLESTOWN, PA -- (Marketwired) -- 11/16/16 -- ProPhase Labs, Inc. (NASDAQ: PRPH) (www.ProPhaseLabs.com) today reported that the arbitration case that has been ongoing since October 2014 with Phosphagenics, Inc. and Phosphagenics, LTD (collectively, "Phosphagenics) in connection with the Phusion joint venture has been resolved and is now concluded.
The arbitrator rejected all of the counterclaims asserted by Phosphagenics that ProPhase pay damages to Phosphagenics. The arbitrator also awarded to ProPhase recovery of approximately $350,000 (net of the payment of certain wind down expenses) that had... More
