Denver, Nov. 17, 2000 (PRIMEZONE) -- Although not named as a defendant, Coram Healthcare Corporation (OTCBB:CRHE) today responded to the legal complaint of Alan Furst, M.D. and Michael S. Harrison, Esq., which was filed in the U.S. District Court for the District of New Jersey Nov. 8, 2000 and was the subject of a press release today by their attorney.
The complaint, which seeks class action status on behalf of those who sold Coram stock between August 8, 2000 and November 8, 2000, names as defendants a number of current and former members of Coram's management and board as well as Coram's note holders.
Legal counsel for Coram has preliminarily reviewed the complaint and believes that it is frivolous. The material facts alleged are demonstrably false and at odds with the public record.
Denver-based Coram Healthcare, through its subsidiaries, is a national leader in providing quality home infusion therapies and support for clinical trials, medical product development and medical informatics.
Note: Except for historical information, all other statements in this press release are "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's actual results may vary materially from these forward-looking statements due to important risk factors including the Company's lack of profitability; uncertainties associated with the outcomes of certain pending legal proceedings; the Company's significant level of outstanding indebtedness; the Company's need to obtain additional financing or equity; uncertainties associated with the dilution that would occur if the Company's existing debt holders exercise their equity conversion rights; the Company's limited liquidity; and the Company's dependence upon the prices paid by third party payers for the Company's services; and certain other factors. Certain risk factors are described in greater detail in the Company's Form 10-K Annual Report and 10-Q Quarterly Report on file with the Securities and Exchange Commission.