AMERICAN FORK, Utah, Sept. 11, 2019 /PRNewswire/ -- A recently adjudicated Utah Supreme Court case has significantly increased the likelihood that the Court will have jurisdiction in Utah for IBC Advanced Technologies, Inc. ("IBC") to pursue its previously filed claims against Ucore Rare Metals, Inc. ("Ucore").
A complaint, with jury trial demanded, was filed on January 4, 2019 by IBC in the Third District Court of the State of Utah, against Ucore, Jim McKenzie, Mark MacDonald, Randy McGillivray, and John Does I and II seeking damages of no less than USD $20 million based on violation of common law and statutory claims, including misappropriation of IBC's trade secrets and confidential information, infringement of IBC's trademarks, unfair competition, misrepresentation of IBC's intellectual property as its own, defamation of IBC and Steven Izatt, CEO of IBC, painting IBC and Steven Izatt in a false light, tortious interference with IBC's economic relations, and unjust enrichment.
At issue in the jurisdiction battle is the required contacts which a non-resident defendant must have in Utah before a Utah court may exercise jurisdiction. This issue has been clarified by a decision of the Supreme Court of Utah in Raser Tech v. Morgan Stanley, 2019 UT 44, issued August 13, 2019 (the "Supreme Court Case").
The Supreme Court Case found that:
"Even if the effects are felt by just the plaintiff in the state, if those effects are the product of a defendant purposefully reaching into the state, specific jurisdiction may exist."
As Ucore's alleged wrongdoings were indeed felt by IBC, and the evidence shows that Ucore reached into Utah to inflict that harm, IBC strongly believes that the State of Utah has jurisdiction over Ucore.
For this reason, IBC believes that the parties have moved substantially closer to adjudication of the core issues in this case, in which IBC seeks to recover damages, and enjoin Ucore from its on-going misrepresentations and tortious behavior toward IBC.
It is unfortunate that Ucore has refused to stop misappropriating, utilizing or referencing IBC's name, reputation, technology, trademarks, confidential information and trade secrets despite repeated demands by IBC to do so. IBC is very confident that it has strongly meritorious claims to which Ucore has no legitimate defense.
Background of IBC
IBC is an award-winning provider of proprietary and innovative Molecular Recognition Technology ("MRT") products and processes, based on green chemistry and green engineering, to premier customers worldwide. IBC's SuperLig®, AnaLig® and MacroLig® products and associated processes are used in manufacturing, analytical and laboratory applications.
In 1988, IBC was founded by and named after three Brigham Young University professors: Dr. Reed M. Izatt, Dr. Jerald S. Bradshaw and Dr. James J. Christensen.
IBC is the proud sponsor of the International Izatt-Christensen Award. This Award, founded in 1991 and named after Dr. Reed M. Izatt and Dr. James J. Christensen, two of the founders of IBC, recognizes excellence in macrocyclic and supramolecular chemistry. It is known as one of the most prestigious small awards in chemistry. The Award is presented annually at the International Symposium on Macrocyclic and Supramolecular Chemistry ("ISMSC"). Two of the early recipients of the Award later shared the 2016 Nobel Prize in Chemistry. The precursor of the ISMSC was founded by Dr. Izatt and Dr. Christensen in 1977.
A privately held Utah corporation, IBC counts among its shareholders a multi-billion dollar international manufacturing company, which has been a major customer and benefactor of IBC for over thirty (30) years. IBC has built its business upon integrity, trust and excellence and values its close association with such top-tier companies.
IBC provides proprietary, green chemistry and green engineering SuperLig® Molecular Recognition Technology products and processes worldwide. More information can be found at www.ibcmrt.com
SOURCE IBC Advanced Technologies, Inc.