Akela announces the outcomes of two legal cases involving former employees

Akela (TSX: AKL) a leader in the development of therapeutics for the treatment of pain and its wholly owned subsidiary, PharmaForm, a leader in the contract pharmaceutical development and manufacturing business, today announced the outcomes of two legal cases involving former employees.

In Michael Crowley vs. Formulation Technologies, LLC d/b/a/ PharmaForm, the arbitrator found in favor of Mr. Crowley. As a result, Mr. Crowley has been awarded $325,000 for payment under Mr. Crowley's employment agreement, commissions and vacation accruals earned over his employment period, partial payment of Mr. Crowley's legal fees and Mr. Crowley's out-of-pocket expenses.

In the separate matter of Lermer vs. Akela Pharma Inc. and Formulation Technologies, LLC d/b/a/ PharmaForm PharmaForm, a jury sided with Mr. Lermer and awarded him $188,500 in severance pay and approximately $47,000 in vacation pay earned during the period which he was employed by the company. The judgment was solely against Akela Pharma.