Navigation Links
Mass Financial Corp. Launches Lawsuit Against Elekta AB, Seeks Substantial Damages
Date:11/5/2007

HONG KONG, Nov. 5 /PRNewswire/ -- Mass Financial Corp. ("MASS") Hong Kong announced today that it has filed a lawsuit in the Supreme Court of British Columbia, Canada against Elekta AB, ("Elekta") Stockholm, Sweden and other for breach of contract and contract interference. In the lawsuit we seek injunctive relief and substantial damages.

Michael Smith, President of MASS said the lawsuit involves our proprietary magneto-encephalography "MEG" technologies, (a medical imaging device used for neurological research and diagnostics). "What is very shocking is that Elekta has complained about Chinese companies that have copied Elekta's technology and used it without authority in China and in the international markets," said Mr. Smith. "Why are they now doing the same with our subsidiary? We understand their MEG technology is inferior to our VSM/C.T.F. System technology and wish to put on notice that any hospitals or persons who have or will in the future conspire with Elekta to the detriment of MASS will be included in the lawsuit."

Elekta has stated that its MEG device has never generated a profit and that Elekta would like to liquidate the division but fears that such an admission of failure would negatively affect their stock market price.

Michael Smith continued, this lawsuit is of utmost importance to all small, growing companies in any industry. It is really about a big company trying to intimidate a small company, while using very oppressive tactics. I want to ensure our people as well as Elekta, we will exercise all legal means at our disposal to block and expose this uncompetitive conduct. MASS will continuously report to the public Elekta's ongoing behaviour.

Michael Smith continued, with our lawsuit it should be noted we have tried to communicate with Elekta. Such a lawsuit is only necessary against companies when their management refuse to engage in a professional dialogue and when there is no corporate governance practiced by its Board of Directors.

About MASS

MASS has an office in Hong Kong and with its affiliated companies is engaged in global investments, merchant banking, trading activities and medical supply and service.

About Elekta

Elekta is a medical-technology Group, providing clinical solutions, comprehensive information systems and services for improved cancer care and the management of brain disorders.

Contact information: Suite 803, 8/Fl, Dina House

Ruttonjee Centre

11 Duddell Street

Central, Hong Kong

Tel: (852) 2840-1230

Fax: (852) 2840-1260

Email: mfc@massfinancialcorp.hk

Rene Randall

Tel: 1 (604) 408-8538

Fax: 1 (604) 683-3205

Email: rrandall@bmgmt.com


'/>"/>
SOURCE Mass Financial Corp.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. WorldHeart Appoints David Pellone Chief Financial Officer
2. Align Technology Executive to Present at Upcoming Financial Conferences
3. Somanetics Corporation to Release Third Quarter 2007 Financial Results and Host Conference Call September 19
4. Martek Announces Third Quarter 2007 Financial Results
5. Retired NYPD Lieutenants William E. Keegan, Jr., Owen McCaffery and John Moran and Tom Thees, a former COO in the financial industry, announce today the formation of H.E.A.R.T (Healing Emergency Aid Response Team) 911.
6. Presidential Candidates Address Health, Financial Security at AARPs Life@50+
7. VNUS Medical Technologies Announces Resignation of Chief Financial Officer and VP, Finance & Administration
8. NMHC Reports Fourth Quarter and Fiscal Year 2007 Financial Results
9. Transition Therapeutics Announces Fiscal 2007 Year End Financial Results
10. Peoples United Financial CEO Has Surgery
11. Assured Pharmacy Retains Empire Financial Group
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/20/2017)... ... 20, 2017 , ... Researchers at the University of Pittsburgh School of Medicine ... that may predict response to a particular class of drugs, not just in patients ... The new findings were published in Proceedings of the National Academy of Science. , ...
(Date:2/20/2017)... , ... February 20, 2017 , ... ... regulated industries, announced Biscom Document Router (BDR), the first IoT device from Biscom ... diagnostics and imaging. Biscom will debut BDR at HIMSS17 and will ...
(Date:2/20/2017)... , ... February 20, 2017 , ... ReportingMD, a Population Health Software Company, is pleased ... the company. The new location will triple the size of the previous location while ... town of Sunapee, NH. , “We are excited to expand our footprint to ...
(Date:2/20/2017)... ... ... Chuck E. Cheese’s® and Center for Autism and Related Disorders (CARD) recently announced ... throughout New England, New York and New Jersey to provide children with autism spectrum ... Chuck E. Cheese’s in a sensory-friendly environment. , After a successful pilot run ...
(Date:2/19/2017)... , ... February 19, 2017 , ... The Citadel’s new ... nursing students, is being led by Amelia Joseph, Ph.D. Joseph was engaged by the ... of the nursing department in early 2016. After a nation-wide search, she was selected ...
Breaking Medicine News(10 mins):
(Date:2/21/2017)... Lexmark International, ... solution that connects Lexmark multifunction printers (MFPs) to EDCO ... leading scanning and indexing software solutions for medical records. ... use a Lexmark MFP at the point of care ... facilities reach HIMSS Stage 7 through state-of-the-art ...
(Date:2/21/2017)... IDAHO FALLS, Idaho , Feb. 21, 2017 /PRNewswire/ ... is has completed a private placement with certain investors ... preferred stock of the Company, Series C Convertible Redeemable ... Stock accrues dividends at an annual rate of 6% ... share.  The Company plans to use the proceeds for ...
(Date:2/21/2017)... SAN JOSE, Calif. , Feb. 21, 2017 ... announced that its Cadence ® Tensilica ® Fusion ... HaLow ™ MAC IP offering. The licensable IP targets ... smart city and industrial applications. M2B leveraged the Fusion F1 ... to run value-added applications like voice trigger, audio identification and ...
Breaking Medicine Technology: