SOURCE: Nerium Biotechnology, Inc.

March 22, 2016 15:18 ET

Nerium Biotechnology Amends Claim to Enforce Its Contractual Rights

SAN ANTONIO, TX--(Marketwired - March 22, 2016) - Nerium Biotechnology, Inc. ("Nerium") reported today that its subsidiary, Nerium Skincare, Inc. ("Nerium Skincare"), has amended the claim that it filed against Nerium International, LLC ("International") in Texas on August 21, 2015. Nerium Skincare holds a minority ownership interest in International and the claim was filed to enforce Nerium Skincare's rights under the Company Agreement that governs International. The claim has been amended to add JO Products, L.L.C., the majority owner of International, and Jeff A. Olson, the sole manager of International and a principal owner of JO Products, as defendants.

About Nerium Biotechnology, Inc.

Nerium Biotechnology, Inc. is a biotechnology company involved in the research, product development, manufacture and marketing of Nerium oleander-based products. Nerium's shares are not listed on any stock exchange or quotation system.

Forward Looking Statements: Statements made in this news release that relate to future plans, expectations, events or performances are forward looking statements. Such statements are based on current expectations and involve risks and uncertainties. There can be no certainty about the outcome of any litigation, including Nerium's claim against Nerium International LLC, and such litigation could have an adverse effect on Nerium's business, financial condition, results of operation and cash flows.

Contact Information

  • For additional information, please contact:
    Joseph B. Nester
    Executive Vice-President
    Phone: 210-822-7908 (ext. 101)