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Revolutions Medical says SEC lawsuit driven by libelous duo

Fri, 09/28/2012 - 1:07pm
Mass Device

Revolutions Medical plans to "vigorously" defend itself against an SEC lawsuit, claiming allegations that the company issued fraudulent accounts of its safety syringe production were spurred by libelous claims from a pair of aggressors.

Revolutions Medical logo

The Securities & Exchange Commission filed a civil complaint in federal court against safety device and software maker Revolutions Medical (PINK:RMCP) over handful of allegedly "misleading press releases" the company issued in 2010 and 2011, according to regulatory filings.

Revolutions plans to "vigorously defend" itself and CEO Rondald Wheet, who was named as a co-defendant in the SEC's case, against what it called "unfounded allegations" and a lawsuit it claims is driven by the false testimony of a pair of individuals that the company has previous legal actions against.

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