Boston, MA 03/26/2014 (wallstreetpr) – Tuesday turned out to be a bad one for Lexmark International, Inc (NYSE:LXK) after the Supreme Court has established its ruling that the company is vulnerable to the false-advertising claim from the other company. It is to be noted that Sanford, N.C. located Static Control Components had filed a lawsuit against Lexmark, alleging it to have used false advertising techniques related to Static Control’s products. And, the Tuesday’s ruling of the high court clears its way for Static Control to go forward with Lanham Act case against the company. The legal suit stems from the Lexmark’s microchips that bars cartridges from being reused, hence making them useless for remanufacturers. But, Static Control had developed a microchip that allows manufacturers to reprocess the Lexmark cartridges.
Endocyte, Inc. (NASDAQ:ECYT) announced yesterday that is will offer 4.5 million of its common stock for sale through an underwritten public offering. The company also looks forward to grant the underwriters with a 30-day window to purchase an additional 675,000 shares of the company. The ner proceeds of the offering intended to be employed towards the working capital needs and general corporate purposes, which includes, research and development expenses, clinical trial costs and other capital as well as administrative expenses. The company has authorized Credit Suisse Securities LLC and Citigroup Global Markets Inc. as joint book-running managers, while Cowen & Co. has been engaged as lead manager. Endocyte, Inc. (NASDAQ:ECYT) is a bio-pharma company, which is involved in the development of therapies meant for the treatment of cancer and inflammatory diseases.
Last week, Cross Timbers Royalty Trust (NYSE:CRT) announced the cash distribution for the month of March for its units holders. As per the announced distribution, $0.261392 per unit is payable to its holders on April 14, 2014. The amount is payable to those unit holders, who appear on its records as on the date March 31, 2014. Cross Timbers Royalty Trust (NYSE:CRT) works as an express trust and the net profits interests are the main asset of the trust.
