Generex (GNBT) Launches $250mln Lawsuit Against TheStreet.com (TSMC)

Generex Biotechnology Corp. (GNBT) has announced that has commenced legal proceedings against TheStreet.com (TSCM) and Adam Feuerstein in the Supreme Court of the State of New York seeking $250 million in damages for business defamation, product disparagement, and injurious falsehood.

The claims arise out of articles authored by Feuerstein and published on TheStreet.com website on March 19 and March 26, 2010.

According to Generex, “the articles disseminate numerous defamatory statements about the co, its management, and its flagship product, Generex Oral-lyn, and that the articles put forward several ostensible statements of fact that are, in truth, misleading or outright misstatements made with malicious intent or with a reckless disregard for the truth.”

Full Generex press release available here »

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