TOLEDO, Ohio, Oct. 16 /PRNewswire-FirstCall/ -- N-Viro International Corp. (OTC Bulletin Board: NVIC) ("N-Viro") announced today that it had achieved the dismissal of a lawsuit in favor of N-Viro and certain past and/or current officers and directors. The action was originally brought in July 2006 by the former CEO, President and Chairman of the Board of N-Viro, J. Patrick Nicholson. In its order granting the dismissal, the Honorable James G. Carr, Chief Judge for the Federal District Court for the Northern District of Ohio, determined that the claims of the plaintiffs were not timely brought and that the plaintiffs' failed to serve properly certain defendants. In addition, the court concluded that the plaintiffs failed to identify any specific statements by N-Viro that were false and misleading and failed to prove that the required inference of scienter.
With the dismissal, N-Viro has prevailed in all actions brought by Mr. Nicholson against N-Viro and its officers and directors. Earlier this year, N-Viro was successful in an arbitration action brought by Mr. Nicholson regarding its termination of a consulting agreement in 2005. In that case, the arbitrator ruled that N-Viro was legally justified in its termination for cause of Mr. Nicholson's consulting agreement. Now his federal action has similarly ended in favor of the Company.
Timothy R. Kasmoch, CEO and President, had these comments: "Mr. Nicholson, through his onslaught of litigation, has wasted company resources. But, we were never distracted from our vision for the future. We will continue to develop our patented N-Viro Fuels technology and believe that N- Viro shareholders will be rewarded. N-Viro is a great company. With positive and honest leadership, I believe great things are possible for N-Viro."
N-Viro International Corporation develops and licenses its technology
to municipalities and private companies. N-Viro's patented processes use
lime and/or mineral-ri
|SOURCE N-Viro International Corp.|
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