After its recent success in defeating all claims in the lawsuit filed by Aemetis, Inc. (NASDAQ:AMTX), Edeniq, Inc. today announced that it has voluntarily withdrawn its cross-claims. Edeniq had brought this countersuit to assist it in defending against Aemetis’ meritless case; having now achieved that clear victory, Edeniq has chosen not to incur the time and expense of a trial. Edeniq will now turn to recovering the attorneys’ fees and costs it believes it is entitled to pursuant to the parties’ terminated merger agreement.
“By defeating every one of Aemetis’ claims, Edeniq has fully achieved its goals in this litigation. We look forward to putting this lawsuit behind us and continuing to focus on our industry, our investors, and especially our customers,” stated Brian Thome, President and CEO of Edeniq.
About Edeniq, Inc.
Edeniq, Inc. is a leading biotechnology company that develops processes for producing and measuring cellulosic ethanol from corn kernel fiber through its Intellulose technology. Edeniq’s Intellulose requires zero capital investment and is easily integrated into existing ethanol production facilities. Edeniq was established in 2008 and is headquartered in Visalia, Calif. with a field office in Omaha, Neb. More information can be found at www.edeniq.com.