Mar 16 2011
Light Instruments Ltd., ("Light") a subsidiary company of Syneron Medical Ltd. and a leading manufacturer of the LiteTouch™ and Laser-in-Handpiece™ dental laser breakthrough technologies has filed a lawsuit on March 9, 2011, at the Tel-Aviv District Court, against Creation S.r.l., an Italian company, headed by its CEO, Professor Alfred Resch.
In the complaint, Light argues that Creation has materially breached and failed to honor the OEM contract between Creation and Light, and therefore Light is entitled to the sum of €620,000.
As part of the OEM agreement, Creation was committed to purchasing Er: YAG Dental Laser devices for the sum of €750,000 from Light Instruments. After receiving the laser devices, Creation allegedly failed to fulfill its contractual obligations to pay Light the agreed sum.
Light alleges that Creation has gained and is still gaining substantial profits as a result of what Light claims to be a contractual breach of the OEM agreement, as the LiteTouch™ laser devices that Creation obtained under its OEM contract with Light are being sold to third parties.
Light's President, Ira Prigat commented, "Throughout the period, Creation continues to ignore its contractual obligations, collecting the entirety of its profits from LiteTouch™ sales directly into its pockets, evading all attempts by Light to receive payment due for its laser devices.
"Despite Creation's alleged breach of its obligations to pay for the laser devices, it continues to hold tens of these devices at its premises, offering the devices for sale to distributors around the world."
Light views Creation's violation the terms of the OEM agreement in the most serious manner and shall use all necessary legal proceedings in its power to ensure that Creation fulfills its obligations entirely and that justice is completely restored.
The complaint was filed by the law offices of Zioni, Pillersdorf & Co, Advocates.