Implant Sciences Responds to Levi & Korsinsky, LLP Press Release /Solicitation
WILMINGTON, Mass., Aug. 11, 2014 /PRNewswire/ -- In response to a press release/general solicitation by the class action law firm, Levi & Korsinsky, LLP, Glenn D. Bolduc, CEO of Implant Sciences Corporation (OTCQB: IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, said today: "Levi & Korsinsky's press release/solicitation identifies no grounds whatsoever for an investigation of Implant Sciences or its board of directors. The firm has never contacted us directly, and we are not aware of any basis for an investigation. Last week alone, the same firm announced similar 'investigations' and solicitations of plaintiffs with respect to at least two other companies, just as it has done to numerous other public companies, without identifying any reasons. We do not believe this law firm's actions will benefit our shareholders, and we encourage our shareholders and other interested parties to draw their own conclusions about the motivation behind this law firm's actions. I also want to personally thank the many shareholders who have called or emailed me since Levi & Korsinsky's announcement to express their continued support for Implant Sciences."
About Implant Sciences
Implant Sciences is a leader in developing and manufacturing advanced detection capabilities to counter and eliminate the ever-evolving threats from explosives and drugs. The Company's team of dedicated trace detection experts has developed proprietary technologies used in its commercial products, thousands of which have been sold across more than 50 countries worldwide. Implant Sciences is only the third manufacturer, and the sole American-owned company, to currently have an ETD system named as a Qualified Product by the US Transportation Security Administration. The Company's ETDs have received approvals and certifications from several international regulatory agencies including the TSA in the U.S., STAC in France, the German Ministry of the Interior, and the Ministry of Public Safety in China. It also received a GSN 2013 Homeland Security Award for "Best Explosives Detection Solution". All Implant Sciences products are recognized as Qualified Anti-Terrorism Technologies by the Department of Homeland Security. For further details on the Company and its products, please visit the Company's website at www.implantsciences.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks that our explosives detection products and technologies (including any new products we may develop) may not be accepted by the Transportation Security Administration or by other U.S. or foreign government and law enforcement agencies or commercial consumers of security products; economic, political and other risks associated with international sales and operations could adversely affect our sales; our business is subject to intense competition and rapid technological change, and our success will depend on our ability to develop and introduce new products; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including our most recent Forms 10-K, 10-Q and 8-K. Such statements are based on management's current expectations and assumptions which could differ materially from the forward-looking statements.
Implant Sciences Corporation
Glenn Bolduc, CEO
SOURCE Implant Sciences Corporation