WALTHAM, Mass., April 26 /PRNewswire-FirstCall/ --
AltaRex Corp. (Toronto: AXO, OTC: ALXFF) today announced that ICN
Pharmaceuticals, Inc. has brought suit against AltaRex in the Superior Court
of Orange County in California claiming that AltaRex breached a letter of
intent between ICN and AltaRex and seeking unspecified damages.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO )
Richard E. Bagley, President and Chief Executive Officer of AltaRex
stated, "We strongly believe that we have not violated the letter of intent
with ICN. We intend to vigorously defend this lawsuit and to pursue any legal
remedies available to the Company for any damages caused to us by this
lawsuit."
THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN
SOURCE AltaRex Corp.
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Related links:
http://www.altarex.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
http://www.prnewswire.com/comp/128163.html
CONTACT:
Edward M. Fitzgerald, Senior Vice President
and Chief Financial Officer of AltaRex Corp., +1-781-672-0138,
ext. 1504, efitzgerald@altarex.com
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