Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, is pleased to announce that the Pinellas County Circuit Court granted a motion to dismiss the lawsuit filed by Cryo-Cell International against Cord Blood America, which CBAI management believed was an attempt to inhibit the pending deal between Cryo-Cell Mexico and CBAI.
"We're delighted. When I first addressed this issue publicly on Dec 17th, I stated that this was a suit without merit, and we knew we needed to defend ourselves; even at great time and cost to the company. The lawsuit was a menace and we are pleased with the outcome. Hats off to our counsel for a job well done and to the judicial system for seeing this through to a motion to dismiss," said Matthew Schissler, Cord Blood America's Chairman, CEO and co-founder.
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