BetterLife Announces Favorable Outcome in New York Legal Claims
BetterLife Pharma (CSE: BETR / OTCQB: BETRF) announced a favorable outcome in legal claims filed against the company and its subsidiary, MedMelior. The case, initiated in early 2021 by a former MedMelior director seeking US$12.5 million in damages, has concluded with no obligations for BetterLife.
The resolution came through a series of New York state and federal court dismissals on grounds of forum non conveniens. The former director's subsequent federal appeal attempt lapsed in early November after unsuccessful settlement attempts, effectively ending the legal proceedings without any payments or penalties against the company.
BetterLife Pharma (CSE: BETR / OTCQB: BETRF) ha annunciato un esito favorevole nelle controversie legali presentate contro l'azienda e la sua sussidiaria, MedMelior. Il caso, avviato all'inizio del 2021 da un ex direttore di MedMelior che richiedeva 12,5 milioni di dollari in danni, si è concluso senza obblighi per BetterLife.
La risoluzione è avvenuta attraverso una serie di archiviazioni presso i tribunali statali e federali di New York per motivi di forum non conveniens. Il successivo tentativo di appello dell'ex direttore è scaduto all'inizio di novembre dopo tentativi infelici di risoluzione, ponendo di fatto fine alle procedure legali senza pagamenti o sanzioni contro l'azienda.
BetterLife Pharma (CSE: BETR / OTCQB: BETRF) anunció un resultado favorable en las demandas legales presentadas contra la empresa y su subsidiaria, MedMelior. El caso, iniciado a principios de 2021 por un ex director de MedMelior que buscaba 12,5 millones de dólares en daños, ha concluido sin obligaciones para BetterLife.
La resolución se logró a través de una serie de desestimaciones en los tribunales estatales y federales de Nueva York por motivos de forum non conveniens. El posterior intento de apelación federal del ex director caducó a principios de noviembre tras intentos fallidos de acuerdo, poniendo así fin al proceso legal sin ningún pago o penalización contra la empresa.
BetterLife Pharma (CSE: BETR / OTCQB: BETRF)는 회사와 자회사인 MedMelior를 상대로 제기된 법적 청구에 대한 유리한 결과를 발표했습니다. 이 사건은 MedMelior의 전 이사가 1,250만 달러의 손해배상을 요구하며 2021년 초에 시작되었고, BetterLife는 아무런 의무 없이 종료되었습니다.
해결책은 뉴욕 주 및 연방 법원에서 forum non conveniens을 근거로 한 일련의 기각을 통해 이루어졌습니다. 당시 전 이사의 연방 항소 시도가 11월 초에 합의 시도가 실패한 뒤 만료되어, 회사에 대한 어떤 지불이나 처벌 없이 법적 절차가 사실상 종료되었습니다.
BetterLife Pharma (CSE: BETR / OTCQB: BETRF) a annoncé un résultat favorable dans les réclamations légales déposées contre l'entreprise et sa filiale, MedMelior. L'affaire, initiée au début de 2021 par un ancien directeur de MedMelior réclamant 12,5 millions de dollars de dommages, s'est conclue sans obligations pour BetterLife.
La résolution est intervenue par le biais d'une série de rejets devant les tribunaux d'État et fédéraux de New York pour des raisons de forum non conveniens. La tentative d'appel subséquente de l'ancien directeur a expiré début novembre après des tentatives d'accord infructueuses, mettant ainsi fin aux procédures judiciaires sans paiements ni pénalités contre l'entreprise.
BetterLife Pharma (CSE: BETR / OTCQB: BETRF) gab ein positives Ergebnis in den rechtlichen Ansprüchen bekannt, die gegen das Unternehmen und seine Tochtergesellschaft MedMelior erhoben wurden. Der Fall, der Anfang 2021 von einem ehemaligen Direktor von MedMelior eingeleitet wurde, der 12,5 Millionen US-Dollar an Schadensersatz forderte, wurde ohne Verpflichtungen für BetterLife abgeschlossen.
Die Lösung erfolgte durch eine Reihe von Abweisungen vor Staats- und Bundesgerichten in New York aus Gründen des forum non conveniens. Der nachfolgende Versuch des ehemaligen Direktors, Berufung einzulegen, lief Anfang November nach erfolglosen Vergleichsversuchen ab und beendete die rechtlichen Verfahren ohne Zahlungen oder Strafen gegen das Unternehmen.
- Legal claims seeking US$12.5 million in damages resolved with no financial obligations for the company
- Complete dismissal of all claims in New York courts with no settlements or penalties required
- None.
VANCOUVER, British Columbia, Dec. 09, 2024 (GLOBE NEWSWIRE) -- BetterLife Pharma Inc. (“BetterLife”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU), an emerging biotech company focused on the development of BETR-001, a non-hallucinogenic derivative of lysergic acid diethylamide (“LSD”), announced that the legal claims against BetterLife and its subsidiary, MedMelior Inc. (“MedMelior”) (collectively, the “Company”) have concluded in the Company’s favor such that the Company does not have any obligations of any kind regarding this case.
The case was originally filed by a former director of MedMelior (formerly Altum Pharmaceuticals) in early 2021 claiming a total of US
Dr. Ahmad Doroudian, CEO of BetterLife commented, “We are very pleased with the resolution of this case. We always believed the case to be without merit and were confident that there will be a successful conclusion for BetterLife and MedMelior.”
About BetterLife Pharma
BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders.
BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic and non- controlled LSD derivative in development and it is unique in that it is unregulated and therefore can be self-administered. BetterLife’s synthesis patent for BETR-001 eliminates regulatory hurdles and its pending patent, for composition and method of use, covers treatment of major depressive disorder, anxiety disorder and neuropathic pain and other neuro-psychiatric and neurological disorders.
BETR-002, which is in preclinical and IND-enabling studies, is based on honokiol, the active anxiolytic ingredient of magnolia bark. BetterLife’s pending method of use and formulations patent covers treatment of anxiety related disorders including benzodiazepine dependency.
BetterLife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development.
For further information, please visit BetterLife Pharma.
Contact
David Melles, Investor Relations Manager
Email: David.Melles@blifepharma.com
Phone: 1-778-887-1928
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