This Day On The Street
Continue to site
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

Bio-Reference Laboratories, Inc. Responds To An Employee Wrongful Termination Suit Filed Against It As Baseless And Without Merit

ELMWOOD PARK, N.J., April 12, 2013 (GLOBE NEWSWIRE) -- Bio-Reference Laboratories, Inc. (Nasdaq:BRLI) strongly denounced and denied the allegations of a complaint that has been filed against the Company in the Superior Court of New Jersey by an apparently disgruntled, former employee. The Company has indicated that it will vigorously defend this case, if it proceeds, and will seek to vindicate itself through all means against the frivolous allegations.

The Company noted that earlier this week a web-based blog had posted the complaint against the Company, which has not yet been served on the Company and was unknown to the Company prior to the blog report. However, based on what was posted on the blog, the Company has completed a preliminary review of the allegations and has determined that the complaint is baseless, frivolous and totally without merit. The complaint describes a series of events that are unsupported by facts and seeks compensation for non-existent damages. The Company has policies and procedures in place that are designed to prevent the possibility of compliance violations along the lines of those alleged and that it has quality assurance programs in place that verify full compliance during the period of time alleged in the complaint. The Company's preliminary review of all electronic requisitions (the method that was used in this office) submitted by the account during the time when the plaintiff was assigned at that office to be a phlebotomist reveals no apparent Medicare or other billing issues. The Company believes it has found no evidence that any Medicare patients, drawn by the physician's staff, were billed by the Company to Medicare for venipuncture fees.  The Company also believes, based on its preliminary review that the totality of blood draws involving the plaintiff are miniscule in number and the amount of anticipated reimbursement from those phlebotomy services billed to Medicare from the account over the period the plaintiff worked at the location was less than $250. In addition, the Company believes that the billing practices relating to this account are consistent and compliant with Medicare and Medicaid regulations.

1 of 2

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs