HONG KONG, Nov. 5 Mass Financial Corp. ("MASS") Hong Kongannounced today that it has filed a lawsuit in the Supreme Court of BritishColumbia, Canada against Elekta AB, ("Elekta") Stockholm, Sweden and other forbreach of contract and contract interference. In the lawsuit we seekinjunctive relief and substantial damages.
Michael Smith, President of MASS said the lawsuit involves our proprietarymagneto-encephalography "MEG" technologies, (a medical imaging device used forneurological research and diagnostics). "What is very shocking is that Elektahas complained about Chinese companies that have copied Elekta's technologyand used it without authority in China and in the international markets," saidMr. Smith. "Why are they now doing the same with our subsidiary? We understandtheir MEG technology is inferior to our VSM/C.T.F. System technology and wishto put on notice that any hospitals or persons who have or will in the futureconspire with Elekta to the detriment of MASS will be included in thelawsuit."
Elekta has stated that its MEG device has never generated a profit andthat Elekta would like to liquidate the division but fears that such anadmission of failure would negatively affect their stock market price.
Michael Smith continued, this lawsuit is of utmost importance to allsmall, growing companies in any industry. It is really about a big companytrying to intimidate a small company, while using very oppressive tactics. Iwant to ensure our people as well as Elekta, we will exercise all legal meansat our disposal to block and expose this uncompetitive conduct. MASS willcontinuously report to the public Elekta's ongoing behaviour.
Michael Smith continued, with our lawsuit it should be noted we have triedto communicate with Elekta. Such a lawsuit is only necessary againstcompanies when their management refuse to engage in a professional dialogueand when there is no corporate governance practiced by its Board of Directors.
MASS has an office in Hong Kong and with its affiliated companies isengaged in global investments, merchant banking, trading activities andmedical supply and service.
Elekta is a medical-technology Group, providing clinical solutions,comprehensive information systems and services for improved cancer care andthe management of brain disorders.Contact information: Suite 803, 8/Fl, Dina House Ruttonjee Centre 11 Duddell Street Central, Hong Kong Tel: (852) 2840-1230 Fax: (852) 2840-1260 Email: [email protected]
Rene Randall Tel: 1 (604) 408-8538 Fax: 1 (604) 683-3205 Email: [email protected]
SOURCE Mass Financial Corp.