|By Business Wire||
|June 3, 2014 09:17 AM EDT||
Once again, the Circuit Court of Cook County, Illinois has ruled in favor of CirTran Corporation (OTC BB: CIRC) and its Play Beverages partner in their on-going legal battle with Playboy Enterprises.
On Monday, the Honorable Kathleen M. Pantle dismissed with prejudice an amended third-party complaint filed by Playboy against CirTran Corporation, its President Iehab J. Hawatmeh, and fellow board member Fadi Nora. The ruling follows an earlier order issued by Judge Pantle in January, 2014, which dismissed Playboy’s original third-party complaint for failure to plead sufficient facts to state a claim against these parties under Illinois law. At that time, Judge Pantle allowed Playboy to file the now-dismissed amended complaint.
This legal victory is the eighth favorable ruling CirTran and its partners have obtained since litigation with Playboy commenced in late 2012.
“The legal process is tedious, time-consuming and expensive,” said Mr. Hawatmeh. “But winning each and every time reassures us that we are doing things the right way and on the right track.”
Last week, CirTran filed its 10-K for fiscal year 2013 showing a showing a bottom line improvement of $1.1 million, led by sales and distribution of Playboy Energy Drink. CirTran said it will file Form 10-Q for the first quarter of fiscal 2014 shortly.
About CirTran Corporation
Founded in 1993, CirTran Corporation has evolved from its roots in electronics to focus on manufacturing and marketing Playboy Energy Drink worldwide. In 2007, CirTran created its CirTran Beverage subsidiary, which partnered with Play Beverages LLC, to introduce and distribute Playboy Energy Drink a year later. CirTran also continues to maintain the capabilities of its previous core business in off-shore manufacturing of high-volume electronics, fitness equipment and household products for the multi-billion-dollar direct response industry.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. CirTran disclaims any obligation or intention to update any forward-looking statement.
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