PROPHASE LABS, INC. (NASDAQ:PRPH) Files An 8-K Other Events
Item8.01 Other Events
On November 16, 2016, ProPhase Labs, Inc. (the Company) issued a
press release announcing that the arbitration case that has been
ongoing since October, 2014 with Phosphagenics, Inc. and
Phosphagenics, LTD (collectively, Phosphagenics) in connection
with the Phusion Laboratories, LLC (Phusion) joint venture has
been resolved and is now concluded.
The arbitrator rejected all of the counterclaims asserted by
Phosphagenics that the Company pay damages to Phosphagenics. The
arbitrator also awarded to the Company recovery of approximately
$350,000 (net of the payment of certain wind down expenses) that
had been invested in the Phusion joint venture entity; terminated
the intellectual property license that had been granted to
Phusion from Phosphagenics; and directed the wind down and
termination of Phusion Laboratories LLC, the joint venture
entity.
A copy of the press release is furnished as Exhibit99.1 to this
Form 8-K.
The information in this Item 8.01 and Exhibits99.1 shall not be
deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, nor shall it be incorporated by
reference in any registration statement filed under the
Securities Act of 1933, as amended, unless specifically
identified therein as being incorporated by reference therein.
Item9.01 Financial Statements and Exhibits.
| (d)Exhibits | ||
| No. | Description | |
| 99.1 | Press Release dated November 16, 2016 | |
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