South Carolina medical device maker Revolutions Medical won $20 million judgment against an online forum commenter accused of "Internet defamation."
A South Carolina court awarded medical device company Revolutions Medical (PINK:RMCP) and its CEO more than $20 million in damages against Phillip Hicks, an online forum commenter who the company accused of "Internet defamation."
Revolutions won $3.6 million in compensatory and $1.5 million in punitive damages, and company chairman & CEO Rondald Wheet won $12 million in compensatory and $3 million in punitive damages, according to a press statement.
Revolutions had accused Hicks of waging a "cyber smear campaign" against the company and its chief executive, and claimed that Hicks intentionally interfered with a DoD grant that Revolutions was slated to receive in September 2010.
According to company documents Hicks, under the user-name "Tazmanian353", had made libelous comments on Yahoo! Finance and Raging Bull online forums alleging that Revolutions was just a "shell company" without legitimate operations or real patents and that CEO Ron Wheet "lied in official documents" and made "fraudulent misleading statements."
Revolutions filed a lawsuit on the grounds that Hicks' comments were false and defamatory since the company owns patents, both granted and pending, for auto retractable safety syringe and certain medical imaging technology.
The FDA slaps Spacelabs Healthcare with a Class I recall of its Arkon anesthesia system due to a...
Here's a look at some of the top funding stories for medical device companies this week.
FDA officials warn against the use of "laparoscopic power morcellation" for the removal of uterine...
Bio-artificial liver maker Vital Therapies takes its IPO even lower, now planning to open at $12 per...