Fluidigm Corporation (NASDAQ:FLDM) today announced it has filed litigation against NanoString Technologies, Inc., a privately-held company in Seattle, Washington, for false advertising, unfair competition, and unlawful trade practice in violation of the Lanham Act and corresponding sections of the California Business & Professional Code. The complaint was filed in federal district court in the Northern District of California.
Fluidigm alleges that NanoString’s advertising campaign, including its white paper entitled "Make Every Cell Count with nCounter® Single Cell Gene Expression Assay," is based on a rigged “head-to-head” comparison between the BioMark™ HD System and NanoString’s nCounter Single Cell Assay. Fluidigm charges that NanoString’s testing was intentionally flawed in both its design and execution. The complaint alleges that, as a consequence, NanoString is purposely misleading potential customers in an attempt to improperly bolster its limited market share.
"We have no problem whatsoever with competition, but when another company aggressively misleads the customer base, that is not OK," said Gajus Worthington, President and Chief Executive Officer of Fluidigm. "The BioMark HD System has been successfully deployed in research labs throughout the world, with over 50 peer-reviewed publications in the emerging single-cell genomics field. Especially when scientists are working hard to unlock major new discoveries, misrepresentations and false advertising are toxic and stifle progress by misdirecting precious efforts and funding. We are bringing this action against NanoString to ensure this improper activity stops."
Fluidigm is insisting that NanoString cease and retract its false and misleading advertising claims, and stop misrepresenting and exaggerating the relative performance of its system - all as detailed in the complaint.Cautionary Note About Forward-Looking Statements This press release contains “forward-looking” statements within the meaning of federal securities laws. Forward-looking statements include, among others, statements concerning or implying anticipated litigation results. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by these forward-looking statements. In particular, litigation is expensive and may result in a diversion of management’s time and attention, both of which could adversely affect our future operating results. In addition to these risks and uncertainties, investors should review the risks and uncertainties contained in Fluidigm’s filings with the Securities and Exchange Commission, including risks and uncertainties identified in our most recently filed Quarterly Report on Form 10-Q. All forward-looking statements are qualified in their entirety by this cautionary statement. Fluidigm is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV