March 4, 2020 / 11:08 PM / 25 days ago

BRIEF-Neurometrix Says Reached Settlement With Federal Trade Commission Of Previously Reported Investigation

March 4 (Reuters) - NeuroMetrix Inc:

* NEUROMETRIX - REACHED SETTLEMENT WITH FEDERAL TRADE COMMISSION OF PREVIOUSLY REPORTED INVESTIGATION INITIATED IN 2017 - SEC FILING

* NEUROMETRIX - DEFENDANTS, CEO DR. SHAI GOZANI AND CO DID NOT ADMIT ANY OF ALLEGATIONS IN COMMISSION’S PROPOSED COMPLAINT

* NEUROMETRIX INC - IN SETTLEMENT, DR. GOZANI AND COMPANY HAVE AGREED TO CERTAIN MODIFICATIONS OF QUELL ADVERTISING CLAIMS

* NEUROMETRIX INC - DR. GOZANI AND COMPANY HAVE AGREED TO PAY TO COMMISSION $4 MILLION

* NEUROMETRIX - ALSO PLEDGED TO PAY TO COMMISSION FUTURE COMMERCIAL MILESTONE PAYMENTS RECEIVED PURSUANT TO A COLLABORATION AGREEMENT WITH A THIRD PARTY

* NEUROMETRIX INC - SETTLEMENT HAS BEEN SIGNED AND ENTERED BY UNITED STATES DISTRICT COURT FOR DISTRICT OF MASSACHUSETTS

* NEUROMETRIX - SETTLEMENT WITH FTC OF INVESTIGATION REGARDING COMPLIANCE OF COMPANY'S REPRESENTATIONS ABOUT ITS QUELL(REG) PRODUCT Source: (bit.ly/3cyhE8E) Further company coverage:

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