Earlier this morning, Regenicin, Inc. announced it reached an agreement with former company president Mr. Joseph Connell. The parties agreed to dismiss the company and the board of directors which were named in the lawsuit pending in the US District Court for the Southern District of New York. The company in turn has dismissed its action against Mr. Connell.
In the press release, the company noted there will be a continued action pending by and between Mr. Connell and Mr. McCoy, the current CEO, but that this dispute is anticipated to be settled. The parties recognize this was a partnership dispute and agreed that Regenicin, its board and shareholders should not be affected by this matter.
Mr. McCoy commented, “Mr. Connell and I had a previous business partnership separate and away from Regenicin. This matter is and has always been between the individual parties so I’m very pleased to have the matter formally resolved for our company and the board.”
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