This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Appeal Of Lawsuit By Former Officer Dismissed; Request For Sanctions Granted

ORLANDO, Fla., Feb. 24 /PRNewswire-FirstCall/ -- GeneLink, Inc. (OTC Bulletin Board: GNLK), a leading consumer genomics biotech company, is pleased to report that the Superior Court of Pennsylvania has dismissed the appeal filed by the Company's former CEO and President, John DePhillipo, and his wife against the Company, its subsidiary GeneWize Life Sciences, Inc., and several of the Company's officers, directors and advisors.  The Court also awarded sanctions in favor of the GeneLink Parties against the DePhillipos and their counsel, with the amount of such sanctions to be determined in the future by the Court of Common Pleas of Pennsylvania, Philadelphia County.  

The DePhillipos' appeal arose from the May 5, 2009 Order and Opinion of the Court of Common Pleas of Pennsylvania, Philadelphia County wherein that Court dismissed the DePhillipos' claims as unviable.  

About GeneLink BioSciences, Inc.:

GeneLink Biosciences is a genomics, biotechnology, and wellness company engaged in genetic profile development, product development, business development and support services for its subsidiaries and distribution partners.  GeneLink's patented and patent pending technologies include proprietary genetic assessments and products linked to personalized health, beauty and wellness applications. For additional information, please visit www.genelinkbio.com.  

About GeneWize Life Sciences, Inc.:

GeneWize is a wholly owned subsidiary of GeneLink Biosciences and is the first network sales company to focus on providing individually customized nutritional and skin care formulations based on a consumer's personal DNA assessment.  The company's mission is to empower individuals to take personal responsibility and control of their health.  For additional information, please visit: www.genewize.com.

This release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in the press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. GeneLink disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

SOURCE GeneLink, Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GNLK $0.00 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs