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Shareholders of Former Utah Sterilization Technology Firm File Fraud Lawsuit.
- Article from:
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The Salt Lake Tribune (Salt Lake City, Utah) (viaKnight-Ridder/Tribune Business News)
- Article date:
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March 19, 2002
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Copyright informationCOPYRIGHT 2002 The Salt Lake Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bob Mims
Mar. 19--Nearly 40 shareholders in a former Utah sterilization technology company have filed a civil suit against the firm's top officers and its Illinois-based successor corporation, alleging state and federal securities fraud.
The U.S. District Court complaint, involving an estimated $2 million in stock purchases made in the now-defunct Bioxide Corp. during 1999-2000, also charges Bioxide founder David Derrick and one-time executive vice president William Kirton -- along with Bioxide's corporate reincarnation, Purizer Corp. -- with breach of contract, civil conspiracy, negligent misrepresentation, illegal conversion of funds and unjust enrichment.
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