Federal Trade Commission vs Innovative Designs Court Case Marked Closed
On September 29, 2020, Innovative Designs, Inc. (IVDN) received a favorable ruling from U.S. District Judge Nora Barry Fischer, concluding the FTC's lawsuit concerning its R-value testing for INSULTEX House Wrap products. The court determined that the FTC could not substantiate its claims against IVDN as they failed to counter the company's evidence supporting its R-value and energy savings claims. CEO Joseph Riccelli expressed relief at the decision, emphasizing the importance of the case for the company's reputation.
- Court ruling favored Innovative Designs, Inc. in FTC lawsuit, affirming R-value claims.
- No remaining claims as case is marked closed, reducing ongoing legal concerns.
- None.
Pittsburgh, PA, Sept. 29, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire – Innovative Designs, Inc. (IVDN) -- On September 29, 2020, the Honorable Senior U.S. District Judge Nora Barry Fischer of the United States District Court Western District of Pennsylvania issued the following order of the court in reference to Court Case 2:16-cv-01669-NBF (Federal Trade Commission vs Innovative Designs, Inc):
"AND NOW, this 24th day of September, 2020, the Court having granted the Motion for Judgment on Partial Findings Pursuant to FED. R. Civ. P. 52(c) filed by Defendant Innovative Designs, Inc., IT IS HEREBY ORDERED that judgment is entered in favor of Defendant Innovative Designs, Inc. and against Plaintiff Federal Trade Commission as to all claims set forth in the Federal Trade Commission's Complaint; IT IS FURTHER ORDERED that as there are no remaining claims in this action, the Clerk of Court shall mark this case CLOSED."
The case centered around the assertion by the Federal Trade Commission that in testing the R value of its INSULTEX House Wrap products, the Company had not adhered to the correct testing requirements required under the Federal rules for testing the R value of insulating materials. And therefore, did not have the proper substantiation for its advertising claim regarding the R values of its INSULTEX House Wrap products. The court also commented that the Federal Register states that a high R Value leads to energy savings. Because the FTC has not rebutted IDI’s substantiation representations concerning its R value, it cannot now demonstrate IDI lacked substantiation for its energy savings claims.
Innovative Designs CEO, Joseph Riccelli commented, “It has been a long battle to defend our R-Value and energy savings claims. It was always our belief that the modified test was the correct one to conduct on our product. Our legal counsel, Anthony Patterson, Esq., did a superb job in representing the Company.”
Disclaimer
Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at http://www.sec.gov.
Joseph Riccelli
412-799-0350
joer@idigear.com
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