Clint Eastwood sues over scams on medical patent
What I didn’t know was that APC had already technically dissolved 15 years prior without any distribution of assets to shareholders such as himself.
LOS ANGELES: Director Clint Eastwood has filed a lawsuit seeking to reclaim intellectual property that could be used to combat diabetes and other diseases.
According to the complaint, he has long been investing in the work of Dr Harry Demopoulos, who before dying last year had tiny roles in movies plus was a medical researcher credited with inventing the field of free radical pathology.
Dr Demopoulos devoted much of his work to the research and development of glutathione, a supplement said to boost the immune system.
Eastwood is now suing Molecular Defenses Corporation and its chief Kevin Davis.
As a substantial shareholder to Demopoulos' company, Antioxidant Pharmaceuticals Corporation, Eastwood says he is seeking redress for “swindling through outright usurpation, covert intellectual property transfers and corporate shell games.”
Specifically, Eastwood says that in late 2015, APC went through an alleged restructuring, consolidating businesses under the umbrella of a newly formed entity, Molecular Defenses Corporation.
“In the midst of this allegedly voluntary restructuring, however, Dr Demopoulos unexpectedly suffered a massive stroke in early 2016,” states the complaint. “It was at this tragic time when Defendants pounced, seizing Dr Demopoulos' business (and six US glutathione patents) for their own ends.”
Eastwood alleges that Davis incorporated another entity — also named Molecular Defenses Corporation — and while Dr Demopoulos was undergoing recovery in the hospital, “Defendants caused the preparation of a subscription agreement — purportedly signed by Dr Demopoulos by his ‘Attorney in Fact' — providing for the assignment of the six US glutathione patents from APC to Defendant Molecular Defense Holdings, LLC in exchange for membership rights in this Defendant-entity.”
What Eastwood says he didn't know was that APC had already technically dissolved 15 years prior without any distribution
Clint Eastwood, director
of assets to shareholders such as himself.
“Dr Demopoulos passed away a short time later, leaving unfinished (and in shambles) his alleged efforts to consolidate his business and account for the resulting rights and equity owed the shareholders,” the complaint continues. “Since Dr Demopoulos' stroke, the Eastwood Trust has undertaken herculean efforts to obtain information from Defendants concerning the business operations, shareholders and intellectual property of Dr Demopoulos' companies, including with respect to the Defendant- entities.
But Defendants refuse to provide even the bare-minimum; instead, they spent the last two years employing a strategy of inordinate delay with kind words, empty promises and the trickling of incomplete, contradictory and the vaguest of information.