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Cell Therapeutics allowed to pursue USD22.8m claim against The Lash Group

Posted on: Fri, 20 Nov 2009 08:45:00 EST

Symbols: CTIC

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Nov 20, 2009 (M2 EQUITYBITES via COMTEX) --
CTIC | Quote | Chart | News | PowerRating -- Biopharmaceutical company Cell Therapeutics Inc (CTI) (Nasdaq:CTIC)
(MTA:CTIC) said on Friday that it has won its appeal case to pursue a
USD22.8m claim against The Lash Group, its former third-party
reimbursement consultant for TRISENOX.

CTI originally filed its complaint in 2007, seeking damages for
expenses already incurred related to the investigation, defence and
settlement of claims by the US government concerning Medicare
reimbursement for TRISENOX and other business losses.

The Ninth Circuit Court of Appeals has reversed a US District Court
order and ruled that CTI should be allowed to pursue all of its claims
against The Lash Group. This decision sends the case back to the
District Court for trial.

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For full details on Cell Therapeutics Inc (CTIC) CTIC. Cell Therapeutics Inc (CTIC) has Short Term PowerRatings at TradingMarkets. Details on Cell Therapeutics Inc (CTIC) Short Term PowerRatings is available at This Link.

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