TMCnet News
Jazz Photo Corp. Cites Progress in Prosecuting It's Claims Against Imation Corp. PISCATAWAY, N.J. --(Business Wire)-- June 3, 2004 -- Jack Benun, Chief Operating Officer of Jazz Photo Corp., announced today that the United States District Court, District of New Jersey, affirmed monetary sanctions against Imation Corp. for their violation of Federal Court Rules in Jazz's fraud and RICO case against them. The sanctions are expected to approximate $100,000.00.Mr. Benun said: It is heartening to see that the tactics in which Imation has regularly engaged to delay and disrupt the orderly progress of our claims to trial has resulted in the assessment of sanctions by the Court. Imation's attempt to hide witnesses whose testimony supports Jazz's claims certainly was sanctionable conduct. We are going to trial in this case in September and expect to recover damages in excess of $250 million. Jazz Photo Corp. directly and through its subsidiaries in the United Kingdom distributes single use, 35 mm, zoom and digital cameras in the United States, Europe, and Asia. |
