Next Science (ASX:NXS) said the derivative complaint filed by former employee Michael Morello in Florida's Duval County Court has been dismissed for lack of standing, according to a Monday filing with the Australian bourse.
The complaint alleges that the company's Xbio technology has not been approved by the US Food and Drug Administration for biofilm eradication and that the company failed to address safety concerns regarding its Xperience surgical solution in breast implant procedures, the company said in a Jan. 8 filing.
The litigation initiated by the company against Morello and other former employees for breach of post-employment restraints is underway.
Next Science's shares rose more than 4% in midday trade Monday.
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