Cord Blood America: Court Grants Motion to Dismiss at Lawsuit Aimed at Blocking Acquisition
LAS VEGAS, April 5, 2011 /PRNewswire/ — Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, is pleased to announce that the Pinellas County Circuit Court granted a motion to dismiss the lawsuit filed by Cryo-Cell International against Cord Blood America, which CBAI management believed was an attempt to inhibit the pending deal between Cryo-Cell Mexico and CBAI.
“We’re delighted. When I first addressed this issue publicly on Dec 17th, I stated that this was a suit without merit, and we knew we needed to defend ourselves; even at great time and cost to the company. The lawsuit was a menace and we are pleased with the outcome. Hats off to our counsel for a job well done and to the judicial system for seeing this through to a motion to dismiss,” said Matthew Schissler, Cord Blood America’s Chairman, CEO and co-founder.
About Cord Blood America
Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
E & E Communications
SOURCE Cord Blood America, Inc.