Brief: Neurometrix Says Reached Settlement With Federal Trade Commission Of Previously Reported Investigation

NeuroMetrix

04/03/2020 23:06

March 4 (Reuters) - NeuroMetrix Inc  NURO.O :
    * NEUROMETRIX - REACHED SETTLEMENT WITH FEDERAL TRADE
COMMISSION
OF PREVIOUSLY REPORTED INVESTIGATION INITIATED IN 2017 - SEC
FILING
    * NEUROMETRIX - DEFENDANTS, CEO DR. SHAI GOZANI AND CO DID
NOT
ADMIT ANY OF ALLEGATIONS IN COMMISSION'S PROPOSED COMPLAINT
    * NEUROMETRIX INC - IN SETTLEMENT, DR. GOZANI AND COMPANY
HAVE
AGREED TO CERTAIN MODIFICATIONS OF QUELL ADVERTISING CLAIMS
    * NEUROMETRIX INC - DR. GOZANI AND COMPANY HAVE AGREED TO
PAY TO
COMMISSION $4 MILLION
    * NEUROMETRIX - ALSO PLEDGED TO PAY TO COMMISSION FUTURE
COMMERCIAL MILESTONE PAYMENTS RECEIVED PURSUANT TO A
COLLABORATION AGREEMENT WITH A THIRD PARTY
    * NEUROMETRIX INC - SETTLEMENT HAS BEEN SIGNED AND ENTERED
BY
UNITED STATES DISTRICT COURT FOR DISTRICT OF MASSACHUSETTS
    * NEUROMETRIX - SETTLEMENT WITH FTC OF INVESTIGATION
REGARDING
COMPLIANCE OF COMPANY'S REPRESENTATIONS ABOUT ITS QUELL(REG)
PRODUCT

Source: (http://bit.ly/3cyhE8E)
Further company coverage:  NURO.O 

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