JUPITER, FL / ACCESSWIRE / November 12, 2014 / RenuEn Corporation (OTC Pink: RENU) (PINKSHEETS: RENU), a Renewable Energy Development and EPC company announced today they have been able to resolve all issues in the state civil litigation in Seminole County, Florida (Case No.:2014-CA-001884-15-L and Case No.:2014-CA-002878). The actions between RenuEn, its principals and Homewise Improvement Solutions, its principals - as well as other named parties - have been completely resolved and are both being voluntarily dismissed with prejudice. In addition, former RenuEn President Walter Kritsky has withdrawn his state lawsuit filed in Orange County, FL against the company and its officers (Case No.: 2014-CA-003985-0). The company reports that all of the issues in this related lawsuit filed by Kritsky have been amicably resolved as well.
Jeff Nemes, CEO of RenuEn stated, "We recently announced that RenuEn filed a Federal Civil RICO and Lanham Act complaint (6:14-CV-1754-Orl-41TBS) against numerous individuals. The federal action was filed in response to a multi-month, widespread online defamation campaign waged against the company by a competitor and a group of individuals who are believed to be intending to profit from the slander and libel campaign. Initially, the company had reason to believe that former President Walter Kritsky had been actively involved in the defamation campaign. However, after lengthy discussions, we are now confident that Walt Kritsky unequivocally had nothing to do with any defamation of RenuEn and accordingly we have dismissed the RICO and Lanham against him only with prejudice."
Nemes continued, "Kritsky's dispute with the company was limited to his licensing and the obtaining of building permits on projects sold by our dealers. We believe that at the time, Kritsky received erroneous information about the permitting of jobs under his license. This information has since proven to be incorrect. When Kritsky left the company in late March; the company was experiencing rapid growth. As our dealers continued to submit sales, our permit department experienced delays in processing. As a result, Kritsky began to have concerns which ultimately led to his dispute with the company. The company has since provided proof of permit requirements being met, and documentation showing that RenuEn has processed and applied for permits for the jobs completed during his tenure."
Nemes added, "During our internal investigation and ongoing discussions regarding the state lawsuits, we identified problems that had occurred, the persons responsible and took corrective action. Once we were able to put all of the pieces together from the allegations in the state actions, we began to find a common thread within all of the disputes and therefore were able to settle our differences without additional litigation. The resulting settlements between Kritsky, Badran, Cox, Nemes, their respective companies and business associates were mutual and resolve all disputed issues. RenuEn can now focus on prosecuting those who are directly responsible for their fraudulent, defamatory and libelous acts and try to repair the damage they have caused."
Nemes ended by stating, "Sadly, a small group of individuals attempted to use the dispute between Walter Kritsky and RenuEn as a catalyst to begin a concerted effort to defame and destroy RenuEn and personally attack our officers and business partners. RenuEn and our team of attorneys will continue to vigorously pursue the persons responsible for the online smear campaign as well as any other person making false and libelous allegations against the company, officers and employees. Although the company has suffered significant damage to its reputation that resulted from the erroneous and baseless allegations made against us, we continue to forge ahead with our business plan. We will continue to keep our loyal shareholders updated as the federal case proceeds."
About RenuEn Corporation:
RenuEn Corporation (www.RenuEn.com) is a Renewable Energy Development, Engineering, Procurement and Construction (EPC) Company. The company focuses on Renewable Power projects and the development of solar, geothermal and other renewable energy strategies installing energy saving products and services for residential and commercial clients.
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Safe Harbor Statement:
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
CONTACT:
Inquiries for Investor Relations:
Michael Irving
Paramount Advisors, LLC
407-878-5462
[email protected]
SOURCE: RenuEn Corporation