Ra Medical (NYSE:RMED) said today they filed a suit against Strata Skin Sciences (NSDQ:SSKN) and its board chair Uri Geiger claiming that the parties “undertook a campaign of false, misleading and disparaging statements” to the company’s financial partners before, during and after its initial public offering.
The Carlsbad, Calif.-based company said that it filed the complaint in the U.S. District Court for the Southern District of California.
“Ra Medical believes these false statements constituted intentional interference with Ra Medical’s contractual relations and prospective economic relations, as well as trade libel. In addition, Ra Medical alleges that the statements breached the non-disparagement provision of a prior settlement agreement to which Strata was expressly bound,” according to a press release.
In its suit, Ra Medical claims that Strata engaged in a “deliberate attempt to derail Ra Medical’s mission” by limiting its access to capital markets and by harming its brand and reputation.
The company said it is seeking a declaration stating that Strata breached the settlement agreement between the companies, that it interfered with contractual relationships with prospective economic relations and that it committed trade libel.
Ra Medical added that it is also seeking monetary damages, legal fees and further relief, according to the press release.
Last October, Ra Medical said that its initial public offering brought in more than $86 million by the time it closed, including an underwriter’s option that added some $10 million to the take.