Investor
and Media Relations:
Marty
Tullio, Managing Partner
McCloud
Communications, LLC
marty@mccloudcommunications.com
Fiduciary
Breach Lawsuit Filed Against Len Brandt by CNS Response Board of
Directors
Costa Mesa, CA –
September 18, 2009 – CNS
Response, Inc. (OTCBB: CNSO) (the “Company” or “CNS”) is issuing this
press release to announce that it has filed a complaint in the Delaware Chancery
Court against its director and former CEO Leonard J. Brandt for repeated
violations of his fiduciary duty of loyalty to CNS and its
stockholders. “We are disappointed that Len has repeatedly put his
personal interests ahead of the interests of CNS and its shareholders,” CNS
Response CEO George Carpenter commented. “This isn’t simply a
disagreement over financing tactics or business strategy for the
Company. Recent revelations in Len’s securities filings show that CNS
has been damaged by Len’s failure to uphold his fiduciary obligations to
all shareholders.”
The
complaint was filed under seal; however, a redacted copy (confidential
information removed) will be available on the CNS Response website
shortly.
Additional
Information and Where to Find It
The
Company filed a definitive proxy statement and other relevant documents
concerning its 2009 Annual Meeting of Stockholders with the Securities and
Exchange Commission (“SEC”) on September 15, 2009 and has provided stockholders
with the definitive proxy statement. The Company advises stockholders to read
the definitive proxy statement because it contains important information about
the election of directors and any other matters to be presented at the 2009
Annual Meeting of Stockholders. Stockholders may obtain free copies of the
definitive proxy statement and other documents the Company files with the SEC at
the SEC’s website at www.sec.gov. They may
also access a copy of the Company’s definitive proxy statement by accessing
www.cnsresponse.com.
In addition, CNS stockholders may obtain a free copy of the definitive proxy
statement and other related documents by contacting the Company at 2755 Bristol
Street, Suite 285, Costa Mesa, CA 92626.
Participants
in Solicitation
CNS and
its directors (other than Leonard Brandt) and executive officers may be deemed
to be participants in the solicitation of proxies in respect of the matters to
be considered at the Company’s 2009 Annual Meeting of Stockholders. Information
regarding the interests of the Company’s directors and executive officers in the
proxy contest is included in its definitive proxy statement.
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Fiduciary
Breach Lawsuit Filed Against Len Brandt by CNS Response Board of
Directors
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About
CNS Response
Today,
most physicians are able to base treatment on objective test data, such as EKGs,
MRIs, blood tests, etc. Broadly speaking, such advances have not yet
come to those physicians practicing psychiatry.
CNS
Response has developed a patented data-analysis capability that, with the help
of a simple, non-invasive EEG, will analyze a patient’s brain waves and compare
the results to an extensive patient outcomes database. The process produces a
rEEG® report providing a psychiatrist with guidance to personalize medication
regimens for a patient, based on the patient’s own brain physiology. To read
more about the benefits this patented technology provides physicians, patients
and insurers, please visit the CNS Response website, www.cnsresponse.com.
Safe
Harbor Statement Under the Private Securities Litigation Reform Act of
1995
Except
for the historical information contained herein, the matters discussed are
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, as amended. These statements
involve risks and uncertainties as set forth in the Company's filings with the
Securities and Exchange Commission. These risks and uncertainties could cause
actual results to differ materially from any forward-looking statements made
herein.
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