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Leatt Corporation gets arbitration award |
December 10, 2009
Cape Town, South Africa: Leatt Corporation, a Nevada corporation (PINK SHEET Symbol: LEAT.PK)("Company" or "our"), announced today that it received an Arbitration Award in South Africa which granted Leatt Corporation's request for a permanent restraining order against Karl Ebel and Grant Nelson former employees of Leatt Corporation, as well as one other ("Defendants"), which order permanently restrains them from disclosure of proprietary information about and any commercial exploitation of our Neck Brace intellectual property. The Company is seeking enforcement of the arbitration order in the U.S. against the Defendants.
The permanent restraining Arbitration Award was granted on December 4, 2009. Leatt Corporation alleged that the Defendants were selling a neck brace (through a California company, Innovative Safety Technology LLC) that is based on and violates Leatt Corporation's intellectual property rights, that neck brace is sold under the name "DefNder".
Dr. Chris Leatt, CEO of the Company said; "We believe in protecting our Intellectual Property and confidential information vigorously. We are thrilled with the outcome of the Arbitration Award and look forward to receiving a final Court Order." Mr. Grant Leigh Nelson is an engineer that joined Leatt Corporation after it had developed the Leatt-Brace® Moto GPX and Mr. Karl Peter Ebel was Head of Marketing at Leatt Corporation.
About Leatt Corporation:Leatt Corporation is the exclusive global distributor of the Leatt-Brace®, a Neck Brace designed to help prevent or lessen the severity of potentially devastating motor sport injuries to the cervical spine (neck). The company's operations and research and development of the core products currently take place at Leatt Corporation's offices in Cape Town, South Africa.
Safe Harbor Statement:Any "forward-looking statements" herein are governed by and protected by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, and do not necessarily indicate future performance or prospects of the Company or its subsidiaries.
IR-Press Contact:
PW Richter - IR Agent
Tel: 804.644.2182
Fax: 804.644.2181
Email: prosage@comcast.net |
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P.W. RICHTER, PLC
3901 Dominion Townes Circle
Richmond, VA 23223
(804) 644-2182
prosage@comcast.net |
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Shareholder communication procedure:
The Board of Directors has established a procedure that enables stockholders to communicate in writing with members of the Board. Any such communication should be addressed to Paul Richter at 3901 Dominion Townes Circle, Richmond, VA 23223, Fax: (804) 644-2181; email: prosage@comcast.net. Any such communication must state, in a conspicuous manner, that it is intended for distribution to the entire Board of Directors. Under the procedures established by the Board, upon the Chairman of the Board's receipt of such communication, the Company's Secretary will send a copy of such communication to each member of the Board, identifying it as a communication received from a shareholder. Absent unusual circumstances, at the next regularly scheduled meeting of the Board held more than two days after such communication has been distributed, the Board will consider the substance of any such communication. |
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