U.S. Federal District Court Rules in IBC's Favor - Ucore's Motion Denied - IBC's Complaint Against Ucore will Proceed in Utah
AMERICAN FORK, Utah, Nov. 1, 2019 /CNW/ -- IBC Advanced Technologies, Inc.'s ("IBC") complaint against Ucore Rare Metals, Inc. ("Ucore"), et al. (the "Complaint") will proceed in Utah based on a recently unsealed ruling by United States District Court Judge Howard C. Nielson, Jr. Judge Nielson denied Ucore's motion, in which Ucore had unsuccessfully argued that IBC's Complaint should be dismissed, or in the alternative, stayed pending outcome of legal proceedings in Canada. In rendering his decision, Judge Nielson stated:
"Absent circumstances more extraordinary and justifications much clearer than those presented here, this court will not depart from its "virtually unflagging obligation" to exercise the jurisdiction that the Constitution and Congress have given it."
The Court's order can be found in the link below:
IBC's Complaint was originally filed on February 19, 2019, in the Third District Court of the State of Utah and subsequently removed to U.S. Federal District Court, District of Utah. IBC's claims include breach of contract, breach of the implied covenant of good faith and fair dealing, negligent misrepresentation, fraudulent concealment or fraudulent nondisclosure, breach of fiduciary duty, unjust enrichment, and fraudulent inducement. See link below for more information:
Background of IBC
IBC is an award-winning provider of proprietary and innovative Molecular Recognition Technology ("MRT") products and processes, based on green chemistry and green engineering, to premier customers worldwide. IBC's SuperLig®, AnaLig® and MacroLig® products and associated processes are used in manufacturing, analytical and laboratory applications.
In 1988, IBC was founded by and named after three Brigham Young University professors: Dr. Reed M. Izatt, Dr. Jerald S. Bradshaw and Dr. James J. Christensen.
IBC is the proud sponsor of the International Izatt-Christensen Award. This Award, founded in 1991 and named after Dr. Reed M. Izatt and Dr. James J. Christensen, two of the founders of IBC, recognizes excellence in macrocyclic and supramolecular chemistry. It is known as one of the most prestigious small awards in chemistry. The Award is presented annually at the International Symposium on Macrocyclic and Supramolecular Chemistry ("ISMSC"). Two of the early recipients of the Award later shared the 2016 Nobel Prize in Chemistry. The precursor of the ISMSC was founded by Dr. Izatt and Dr. Christensen in 1977.
A privately held Utah corporation, IBC counts among its shareholders a multi-billion dollar international manufacturing company, which has been a major customer and benefactor of IBC for over thirty (30) years. IBC has built its business upon integrity, trust and excellence and values its close association with such top-tier companies.
IBC provides proprietary, green chemistry and green engineering SuperLig® Molecular Recognition Technology products and processes worldwide. More information can be found at www.ibcmrt.com
SOURCE IBC Advanced Technologies, Inc.
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