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Mass Financial Corp. Launches Lawsuit Against Elekta AB, Seeks Substantial Damages

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


Rene Randall

Tel: 1 (604) 408-8538

Fax: 1 (604) 683-3205


SOURCE Mass Financial Corp.
Copyright©2007 PR Newswire.
All rights reserved

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