Escalon Announces Court Decisions, Status in IntraLase Litigation

Escalon Medical filed a complaint against IntraLase in the Court of Chancery of the State of Delaware for breach of contract and breach of fiduciary duty arising out of IntraLase's bad faith conduct under, and multiple breaches of, a license agreement for laser technology. Under the agreement, Escalon granted IntraLase the exclusive right to use Escalon's patented and non-patented technology in exchange for, among other things, royalty payments based on a percentage of net sales.