LawFuel, The Law News Network – Oakland, CA-September 23, 2006 — It’s …

LawFuel, The Law News Network – Oakland, CA-September 23, 2006 — It’s a good thing. Get out a pot. Put in water and boil it for about 14 years; throw in Sam Waksal and Martha Stewart. Then toss in the Chairman of the Yale School of Medicine Pharmacology Department, Joseph Schlessinger and six other ungrateful bodies, forget to put in the kosher salt and voila! You have just whipped up ImClone Systems Incorporated. It’s a good thing?

Neil Rothstein ([email protected]), Founder and Chief Managing Officer (CMO) of the Worldwide Tree Group™ (“WWT”), served as lead counsel in the securities fraud class action against ImClone ( Truth in Corporate Justice LLC (“TCJ”) is a limited liability company under the umbrella of the WWT that scrutinizes, supports, and endorses law firms that adhere to and are dedicated to the highest ethical, competency and zealous advocacy standards in order to maintain integrity in our legal system. It has begun the practice of “L.E.O.” or Litigation Ethics Oversight. The group consists of TCJ, the Global Governance Center LLC, and Class in Action LLC—WWT’s law center. Additionally, the Group will begin growing its unique Worldwide Tree Multimedia LLC. You may contact Truth in Corporate Justice LLC at (310) 459-2560 or (800) 610-4998 or Neil Rothstein directly at (619) 251-0887. TCJ is a limited liability company that will scrutinize, support, and endorse those law firms that adhere to TCJ’s ethical and competency standards in order to maintain the integrity of the legal system within the United States. TCJ seeks to empower anyone facing legal problems by education, access, guidance, networking, representation, and more.

TCJ’s Rothstein has great respect for the recent September 18, 2006 court decision holding that three scientists from Israel challenged and won their patent dispute against ImClone Systems Inc. The Court declared that these three had invented the delivery system for Erbitux, ImClone’s colon cancer drug treatment, which now may be facing a challenge in the market with a rival drug by Amgen Inc.

ImClone, notorious for the securities fraud case which still has Sam Waksal and Martha Stewart behind bars, got lambasted by U.S. District Court Judge Naomi Reice Buchwald in New York City, when the Court ruled that the three Israeli Scientists, not ImClone, invented the delivery process of the cancer drug Erbitux.

The Court ordered the U.S. Patent and Trademark Office to remove the seven names on the current patent and replace them with the names of the three scientists. According to the Court, ImClone did not make it even appear that their defendants came close to drafting the patent. More shocking is the fact that ImClone has already received $900 million in revenue from Bristol-Myers Squibb Company for the U.S. distribution rights. The plaintiff, Yeda Research & Development Company, has also filed suit in France, Germany, Austria and England.

The Court stated of Schlessinger that “he in no way directed the research of the Weizmann scientists and had absolutely no interaction with them during the course of the experimentation.” Schlessinger had testified at trial that he and the other six “generated the only unique material here.” While ImClone commented that the three scientists waited too long to pursue their claim to the patent, the Court held that ImClone “engaged in a series of actions designed to keep Yeda and the Weizmann scientists in the dark.” Further, the Court stated that ImClone went to ”extraordinary lengths” to prevent the true inventors from discovering that it was pursuing the patent.

Neil Rothstein, the CMO at Truth in Corporate Justice, stated that it is not uncommon for those who are lacking confidence to find a way to falsely secure their identities. He believes that it is unfortunate that those who are insecure and who have an audience that believes whatever they say–even when there is evidence that is indisputable, are often able to take credit for that which they did not do or achieve. “When you surround yourself by those close to you and ignore the truth, it is far easier to not only convince others to believe you, but also it sometimes happens that they get taken down as well,” Rothstein stated. “As was shown once again, however, the charade can only go on for so long. Carl Icahn has now been elected to the Board and he will ensure that the truth will be told. He has demanded that Chief Executive Officer David Kies resign immediately.” On Thursday, however, Kies showed his rage over Icahn’s public display of power. The added publicity was not welcomed warmly by the Chairman at a time of such sensitivity to the Company.

Neil Rothstein, served as Lead Counsel against Imclone Systems in United States District Court for the Southern District of New York (02-cv-136), which settled for $75 million. TCJ applauds the fact that one of the three scientists stated that he had to react to this injustice because the patent was stolen from him. He believed that his name and his science and even his honor needed to be rightfully acknowledged. The stock was down Friday to about $29.61. It was as high as $43.08 per share in May.

Once again, a few voices made a huge difference and the truth (at least until a probable appeal) has been told. TCJ states once again that the plaintiff spoke out after learning of the decision and it is the plaintiff that controls and directs all aspects of the litigation.

TCJ avails its resources, access, and knowledge to both plaintiffs and defendants and uses its power to empower those who have been injured by corporate greed and as well defend corporations and their directors and officers who might be falsely accused of wrongdoing. Its gateway to the world, the soon-coming unique Worldwide Tree Multimedia LLC will enrich, entertain and educate you in many ways. The Global Governance Center LLC is your foundation to help empower those most in need. It houses the Foundations, Endowments & Scholarship Project which will receive not less than ten percent of all profits from the Worldwide Tree Group.

This article was issued by Truth in Corporate Justice LLC
WWFree Release Press

Scroll to Top