{"id":749126,"date":"2023-04-19T09:34:56","date_gmt":"2023-04-19T13:34:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/molekule-announces-court-ordered-dismissal-of-competitors-trademark-infringement-complaint-with-prejudice\/"},"modified":"2023-04-19T09:34:56","modified_gmt":"2023-04-19T13:34:56","slug":"molekule-announces-court-ordered-dismissal-of-competitors-trademark-infringement-complaint-with-prejudice","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/molekule-announces-court-ordered-dismissal-of-competitors-trademark-infringement-complaint-with-prejudice\/","title":{"rendered":"Molekule Announces Court Ordered Dismissal of Competitor\u2019s Trademark Infringement Complaint with Prejudice"},"content":{"rendered":"
\n

PALM BEACH GARDENS, Fla., April 19, 2023 (GLOBE NEWSWIRE) — Molekule Group, Inc<\/u><\/a> (\u201cMolekule\u201d or the \u201cCompany\u201d) (Nasdaq: MKUL), an emerging leader in air purification technology solutions, systems for healthcare and commercial smart building applications, and individual consumer protection, today announced that a civil complaint previously filed against the Company has been favorably resolved with all claims against the Company dismissed by the Court with prejudice.<\/p>\n

\u201cWe are very pleased with the favorable resolution of this matter and along with it the affirmation of the professionalism of our sales and marketing practices.\u201d said Jason DiBona, CEO of Molekule. \u201cOur focus remains on our future as an innovator and leader in the market, to execute on our mission to provide clean indoor air to everyone, everywhere.\u201d<\/p>\n

The complaint was filed on August 11, 2022, in the U.S. District Court for the Southern District of New York, Case No. 7:22-cv-06842- PMH (the \u201cAction\u201d) by Sterilumen, Inc. (the \u201cPlaintiff\u201d or \u201cSterilumen\u201d), a wholly-owned subsidiary of Applied UV, Inc. Sterilumen\u2019s complaint sought $20 million dollars in damages against the Company for, among other claims, alleged trademark infringement and unfair business competition. In response, the Company filed counterclaims (\u201cCounterclaims\u201d) contesting the validity of Sterilumen\u2019s trademark rights and seeking money damages for fraudulent registration thereof.<\/p>\n

By its Order dated March 13, 2023 (the \u201cOrder\u201d), the Court agreed with Molekule\u2019s position and ruled the Action dismissed with prejudice. Molekule subsequently reached a favorable agreement with Sterilumen to forgo pursuing Molekule\u2019s Counterclaims, among other things. As a result, Sterilumen\u2019s claims against Molekule\u2019s trademarks (SteriductTM<\/sup> and AerocleanTM<\/sup>) are permanently barred and Sterilumen has waived its right to appeal the Order. The Company achieved this outcome without having to compensate Sterilumen in any manner, and its legal expenses were covered by an insurance policy.\u00a0\u00a0<\/p>\n

\n About Molekule <\/strong>\n <\/p>\n

Molekule is on a mission to provide clean indoor air to everyone, everywhere. With the largest range of proprietary, FDA-cleared air purification devices on the market, Molekule is providing consumers, business owners, and medical professionals with hardware and software solutions to better understand and improve indoor air quality. Its Air Pro, Air Mini+, and Pu\u0304rgo\u2122 purification devices can be applied to virtually any indoor space, including homes, classrooms, offices, hospitals, and more. For more information and customer reviews, visit https:\/\/molekule.com.<\/p>\n

\n Media Contacts<\/strong>
\n
\n Press@molekule.com<\/a>\n <\/p>\n

\n Investor Relations Contacts<\/strong>
\n
Ryan Tyler \u2014 Chief Financial Officer, Molekule
Ryan.Tyler@molekule.com<\/a><\/p>\n

\n MATTIO Communications<\/strong>
\n
\n molekule@mattio.com<\/a>\n <\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This press release includes forward-looking statements relating to our management\u2019s expectations, beliefs and intentions and Molekule\u2019s prospects. Forward-looking statements are statements that are not historical facts, including the statements of our management. Such forward-looking statements are based on our management\u2019s current expectations and projections about future events and trends, which are inherently subject to risks, assumptions and uncertainties that could cause actual results to differ materially from those explicitly or implicitly projected, including (without limitation): general economic conditions in the markets where we operate; the impact of the COVID-19 pandemic and related prophylactic measures; expected timing of regulatory approvals and product launches; non-performance of third-party vendors and contractors; risks related to our ability to successfully sell our products and the market reception to and performance of our products; our compliance with, and changes to, applicable laws and regulations; our limited operating history; our ability to manage growth; our ability to obtain additional financing when and if needed; our ability to expand product offerings; our ability to compete with others in our industry; our ability to protect our intellectual property; the ability of certain stockholders to determine the outcome of matters that require stockholder approval; our ability to retain the listing of our common stock on Nasdaq; our ability to defend against legal proceedings; success in retaining or recruiting, or changes required in, our officers, key employees or directors; our ability to achieve the expected benefits from our merger with Molekule, Inc.; the risk that goodwill or identifiable intangible assets could become impaired; and our ability to successfully consummate acquisitions.<\/p>\n

These and other risks and uncertainties that could affect Molekule\u2019s future results are included under the caption \u201cRisk Factors\u201d in Molekule\u2019s annual report on Form 10-K\/A for the fiscal year ended\u00a0December 31, 2022\u00a0filed with\u00a0the Securities and Exchange Commission (the \u201cSEC\u201d)\u00a0on\u00a0April 3, 2023, which is available on the SEC\u2019s website at\u00a0www.sec.gov<\/a>. Further information regarding potential risks or uncertainties that could affect actual results will be included in other periodic filings Molekule makes with the\u00a0SEC.<\/p>\n

The forward-looking statements in this release reflect management\u2019s expectations as of the date hereof and Molekule expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Investors should realize that if our underlying assumptions for the projections contained herein prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections.<\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PALM BEACH GARDENS, Fla., April 19, 2023 (GLOBE NEWSWIRE) — Molekule Group, Inc (\u201cMolekule\u201d or the \u201cCompany\u201d) (Nasdaq: MKUL), an emerging leader in air purification technology solutions, systems for healthcare and commercial smart building applications, and individual consumer protection, today announced that a civil complaint previously filed against the Company has been favorably resolved with all claims against the Company dismissed by the Court with prejudice. \u201cWe are very pleased with the favorable resolution of this matter and along with it the affirmation of the professionalism of our sales and marketing practices.\u201d said Jason DiBona, CEO of Molekule. \u201cOur focus remains on our future as an innovator and leader in the market, to execute on our mission to provide clean … <\/p>\n

Continue reading “Molekule Announces Court Ordered Dismissal of Competitor\u2019s Trademark Infringement Complaint with Prejudice”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-749126","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMolekule Announces Court Ordered Dismissal of Competitor\u2019s Trademark Infringement Complaint with Prejudice - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/molekule-announces-court-ordered-dismissal-of-competitors-trademark-infringement-complaint-with-prejudice\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Molekule Announces Court Ordered Dismissal of Competitor\u2019s Trademark Infringement Complaint with Prejudice - 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