Emmaus Life Sciences Issues Statement in Response to Announcement by AFH Holding & Advisory
TORRANCE, Calif., Jan. 25, 2013 /PRNewswire/ -- Emmaus Life Sciences, Inc., a company dedicated to the discovery, development and commercialization of innovative and cost effective treatments and therapies for rare diseases, today issued the following statement in response to an announcement issued January 24, 2013 by AFH Holding & Advisory, LLC.:
AFH Holding & Advisory and its counsel have misrepresented the nature and effect of a recent ruling by the Los Angeles Superior Court. Far from "preventing [Emmaus] from pursuing a lawsuit it had filed" against AFH Holding & Advisory, the court's decision merely stayed the proceedings in California and held that the claims are contractually required to be brought in Delaware, where Emmaus is currently engaged in litigation against AFH Holding & Advisory and its principal Amir Heshmatpour. The court's narrow and technical ruling in no way addressed the merits of Emmaus's claims, which management believes are strongly supported by the evidence. Neither this nor any further attempt by AFH Holding & Advisory to litigate by press release will dissuade Emmaus from pursuing its claims in whatever forum is appropriate for their adjudication.
About Emmaus Life Sciences
Emmaus is dedicated to the discovery, development and commercialization of innovative and cost-effective treatments and therapies for rare diseases.
For more information, please visit www.emmauslifesciences.com.
Lori Teranishi for Emmaus Life Sciences, Inc.
Matt Sheldon for Emmaus Life Sciences, Inc.
SOURCE Emmaus Life Sciences, Inc.
Released January 25, 2013