TEANECK, N.J., April 24, 2012 /PRNewswire/ -- Toyo Ink International Corp., in response to today's announcement by the U.S. Department of Justice that it is intervening in a whistleblower lawsuit filed by a Toyo Ink competitor, issues the following statement:
"We are disappointed by today's announcement by the Department of Justice that it is intervening in a whistleblower lawsuit initiated by a Toyo Ink competitor. The whistleblower allegations that Toyo Ink engaged in any fraudulent activity are false and appear to be driven by business considerations rather than facts. Toyo Ink has a substantial presence in the US, including multiple production facilities and administrative offices providing meaningful employment opportunities for US workers.
The whistleblower's allegations that Toyo Ink intentionally misidentified its PV-23 product as Japanese origin are wrong, since Toyo Ink's PV-23 is manufactured in only one location, that being Toyo's Factory in Japan. Moreover, at all times, Toyo Ink believes that it acted in good faith, in accordance with industry practice, and made every effort to comply with the applicable US laws. Toyo Ink expects its conduct to be fully vindicated by the court and regrets the competitor's attempts to gain an unfair competitive advantage over Toyo Ink by initiating this unfounded lawsuit."
SOURCE Toyo Ink International Corp.