Court Issues Tentative Ruling & Proposed Statement Of Decision FOR CombiMatrix

(RTTNews) - CombiMatrix: Superior Court Issues Tentative Ruling And Proposed Statement Of Decision In Favor Of Co.

CombiMatrix Corp. (CBMX), a molecular diagnostics company specializing in DNA-based testing services for pre- and postnatal developmental disorders, announced that the Superior Court of the State of California, County of Orange, has issued a tentative ruling and proposed statement of decision in the matter of the People of the State of California and Relator Michael Strathmann versus Acacia Research Corp., CombiMatrix Corporation and Amit Kumar.

In its 27-page Proposed Statement of Decision, the court has tentatively ruled in favor of the Defendants and against all claims of the Plaintiff. Specifically, the Court determined that Defendants had no fraudulent intent when they pursued insurance benefits under the National Union D&O Policy over a decade ago. Each party in this case now has up to fifteen days to file any objections it may have. The court then has around 60 days to consider the objections and to hear additional arguments before the Court issues its final ruling and judgment.

According to Mark McDonough, President and Chief Executive of CombiMatrix, "Though we understand that there may be future legal hurdles to overcome, based on the Court's tentative decision, we are optimistic this matter will be resolved in favor of CombiMatrix in a timely fashion. We continue to focus on executing our business plan and driving toward commercial success in 2015 and beyond."