Magistrate Judge Issues Report and Recommendation to Award KORU Medical Systems $1.0 Million in Attorneys’ Fees and Costs
CHESTER, N.Y.--(BUSINESS WIRE)-- Repro Med Systems, Inc. dba KORU Medical Systems (NASDAQ: KRMD) (“KORU Medical” or the “Company”) today announced that on November 12, 2019 a United States District Court Magistrate Judge for the Southern District of New York issued a Report and Recommendation that KORU Medical’s motion to declare the patent infringement case exceptional and recoup attorneys’ fees and expenses from EMED Technologies (“EMED”) should be granted in the amount of $1,012,527.67. As previously announced, on August 30, 2019 the United States District Court for the Southern District of New York granted KORU Medical’s motion for summary judgement of non-infringement against EMED U.S. Patent 9,808,576 and dismissed the case (1:18-cv-05880-LGS) with prejudice.
The Report and Recommendation of the Magistrate Judge serving in the United States District Court for the Southern District of New York is not a final decision and will be reviewed, along with any potential objections raised by EMED, by the District Judge for the United States District Court for the Southern District of New York. KORU Medical believes that the District Judge will confirm the Report and Recommendation of the Magistrate Judge, although there can be no assurances as to the outcome or timing.
KORU Medical is also pursuing the recovery of attorneys’ fees and expenses from EMED in a separate case that was, as previously announced, dismissed by the United States District Judge for the Eastern District of Texas on June 28, 2019. There can be no assurances that KORU Medical will be successful in this pursuit.
About KORU Medical Systems
KORU Medical Systems develops, manufactures and commercializes innovative and easy-to-use specialty infusion solutions that improve quality of life for patients around the world. The FREEDOM Syringe Infusion System currently includes the FREEDOM60® and FreedomEdge® Syringe Infusion Drivers, Precision Flow Rate Tubing™ and HIgH-Flo Subcutaneous Safety Needle Sets™. These devices are used for infusions administered in the home and alternate care settings. For more information, please visit www.korumedical.com.
The statements contained herein include prospects, statements of future expectations and other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current views and assumptions and involve known and unknown risks and uncertainties, identified by words such as “believes”. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements. Factors that may cause actual results to differ materially from current expectations include actual outcome of judicial review and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K, which filings are available from the SEC and the Company’s website. The Company undertakes no obligation to update any forward-looking statements.
The Equity Group Inc.
Senior Vice President
Kalle Ahl, CFA
Source: KORU Medical Systems
Released November 14, 2019