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Federal Circuit Court of Appeals Denies RJ Reynolds Petition for Rehearing in Star Scientific Patent Infringement Lawsuit
Business Wire, Oct 22, 2008
PETERSBURG, Va. -- Star Scientific, Inc. (NASDAQ:STSI) issued the following statement today by Paul L. Perito, the company's chairman, president and COO:
We are pleased to announce to our shareholders that the Federal Circuit Court of Appeals today denied RJ Reynolds Tobacco Company's (RJR) petition for a rehearing. This concludes the review process of the rulings that were issued in 2007 by the US District Court. In the order issued today, the Federal Circuit stated that the formal mandate will issue on October 29. When that mandate issues, the case will be sent back to the US District Court for further proceedings. Of particular importance to the company and its shareholders is the prospect that those proceedings should include the setting of both a pre-trial schedule and a date for a jury trial on Star's claims of infringement against RJR. The company looks forward to a status conference between counsel and the Court in the near future, during which dates for a jury trial are likely to be discussed.
Our company's efforts to protect its intellectual property have been longstanding and, at times, frustrating, both for management and for the company's loyal shareholders. We look forward to the announcement of a date for a jury trial, during which our counsel can present our case for infringement.
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements. These risks, uncertainties and contingencies include, without limitation, the challenges inherent in new product development initiatives, particularly in the smokeless tobacco area, the uncertainties inherent in the progress of scientific research, the Company's ability to raise additional capital in the future necessary to maintain its business, potential disputes concerning the Company's intellectual property, risks associated with litigation regarding such intellectual property, potential delays in obtaining any necessary government approvals of the Company's low-TSNA tobacco products, market acceptance of the Company's new smokeless tobacco products, competition from companies with greater resources than the Company, the Company's decision not to join the Master Settlement Agreement ("MSA"), the effect of state statutes adopted under the MSA, and the Company's dependence on key employees and on its strategic relationships with Brown & Williamson Tobacco Corporation in light of its combination with RJ Reynolds Tobacco Company, Inc. The impact of potential litigation, if initiated against or by individual states that have adopted the MSA, could be materially adverse to the Company.
See additional discussion under "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, as filed with the SEC on March 17, 2008, and other factors detailed from time to time in the Company's other filings with the SEC, available at www.sec.gov. The Company undertakes no obligation to update or advise upon any such forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
About Star Scientific
Star Scientific is a technology-oriented tobacco company with a toxin reduction mission. It is engaged in the development of dissolvable smokeless tobacco products that deliver fewer carcinogenic toxins (principally tobacco specific nitrosamines, or TSNAs), through the utilization of the innovative StarCured[R] tobacco curing technology, and in sublicensing that technology to others. Star Scientific has a Corporate and Sales Office in Petersburg, VA, an Executive, Scientific & Regulatory Affairs office in Bethesda, MD, and manufacturing and tobacco processing facilities in Chase City, VA and in Petersburg, VA.
See Star's website at: http://www.starscientific.com
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