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Amvona publishes critical articles on Faith, Investing, Economics and Technology. The Finding Alpha category of Amvona profiles investments made, including case studies, economic discussion and explanations of the investment rationales. more at: http://www.amvona.com/about-us
My company:
Lemelson Capital Management, LLC
My blog:
Amvona
  • Amvona Pledges Award To Charity  0 comments
    Feb 22, 2013 10:08 AM

    Boston, MA February 22, 2013

    amvona cropped 235

    Photoflex Products Inc. of Watsonville, California and Photoflex' President, Sharon Reeves, have paid $100,000 in damages to Amvona to settle a lawsuit alleging Photoflex's unfair and deceptive business practices, including defamatory and materially misleading statements made by Photoflex and Ms. Reeves concerning Amvona.

    "It would have sufficed had Photoflex agreed to simply 'set the record straight', but unfortunately they repeatedly foreclosed on all options outside of litigation." said Kelly Broadbent, corporate counsel for Amvona.

    Amvona has pledged to donate the full amount received to charity.

    AmvonaAccording to court documents, Photoflex and its President, Ms. Sharon Reeves, widely disseminated press releases and granted interviews disparaging Amvona and continued to display a press release related to the comments on its website.

    Superior Court Judge Raymond P. Veary, Jr. wrote an opinion in response to Photoflex's Motion for Summary Judgment saying in part:

    "…the court concludes that the press release, particularly when combined with the Neubert amplification, meets the threshold of defamatory meaning…

    Furthermore, it appears that Photoflex went to unusual lengths to disseminate its statement by issuing a trans-continental salvo into Amvona's backyard…

    …there appears to be a reasonably achievable factual basis for finding actual malice on the part of Photoflex. By targeting Amvona's home territory on the opposite coast, Photoflex appears to have spitefully intended to interfere with Amvona's relationship with its prospective customers. Furthermore, the press release, in conjunction with the press agent's comment, certainly went unreasonably beyond any legitimate corporate interest Photoflex might have had..."

    ***********

    About Amvona:

    Amvona provides opinion and analysis on issues of Faith, Investing, Economics and Technology. Amvona articles are often published on top blogs and financial news and analysis sites as well as countless other places. Amvona was established in 1999 and is headquartered in Massachusetts. For more information please visit http://www.amvona.com/about-us

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