IRVINE, Calif., Nov. 30, 2023 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation ("Nymox") (OTC Markets NYMXF) announced today that the California Superior Court, Orange County (OCSC) has issued an order granting Nymox's preliminary injunction against Randall Lanham, Richard Cutler, Christopher Riley, and the Committee to Restore Nymox Shareholder Value.
The Court ordered that the above defendants and their officers, agents, servants, employees, assigns, and all those acting in active concert or participation with them are:
- Enjoined from using, disclosing, relying on, or otherwise making publicly available any Nymox attorney-client privileged information; and
- Hereby ordered and compelled to: turn over or make available to Nymox, any and all Nymox Information and Nymox Property in defendant's possession, custody, or control by December 21, 2023.
Earlier on November 3, Nymox announced that the Bahamian Court issued a ruling that suspended the Ex Parte Order of October 3, 2023 wrongly obtained by the so called activist shareholders led by Mr. Lanham, Mr. Riley and others. In the Bahamas, Nymox will be seeking from Mr. Lanham and his accomplices payment of both its legal costs, and separately, damages suffered by Nymox and its directors arising from the wrongful procurement of the Ex Parte Order.
Earlier on November 2, October 3, and on October 27, Nymox had warned its shareholders that false and manipulative behavior was involved in attempts to hold what the Company considered an unlawful, unauthorized, and improper "shareholders meeting" that does not have the support of the Company or anyone currently associated with the Company. Shareholders who are listed on Nymox's proprietary shareholders list were solicited and contacted by a proxy solicitation company in New York. That Company shareholder list is considered by the Company to be proprietary information that has been stolen by the individuals attempting to have this "shareholders meeting." Those individuals have used this confidential, stolen information to contact the Company's shareholders, in violation of their duties as former executives of the Company, in violation of their non-disclosure agreements, in violation of attorney-client confidentiality, and in the Company's opinion, in violation of the law.
Long before this group brought their highly suspicious claim in a Bahamas court to secure an Order, with no participation by the Company, Nymox had filed detailed criminal complaints with various law enforcement agencies at both the state and federal level and has carried out appropriate actions to protect the shareholders. Actions have also been filed in civil court, with legal associations, and with other relevant government agencies, and extra precautions have been taken to ensure the security of the Company's property from this group. The Company informed our shareholders that the detailed list of malfeasances, which include fraud, forgery, theft, and bribery, and other deceptions and underhanded actions, are in the hands of the appropriate authorities.
The Nymox Board continues to be fully supported by the vast majority of voting shareholders of Nymox who have legally provided the Company with their full support. You the shareholders have told the Company this in writing.
Former General Counsel Mr. Lanham leaves a trail of embezzlement, forgeries, fraudulent, and negligent actions, including his current refusal to return to the Company its corporate documents and records, and his unauthorized and unlawful use of the Company property to support this group's actions. Some of you may have received highly sensitive and confidential property of Nymox in flagrant violations of Mr. Lanham's confidentiality agreement with the Company, and in violation of his continuing duty owed to Nymox and its shareholders. In blatant disregard to his sworn under oath certificate with the Supreme Court of California filed to avoid a lengthy suspension from the California Bar, Lanham continued to practice law, failed to inform Nymox of his suspensions, and double-dipped by invoicing Nymox for legal services (despite being compensated as a full time General Counsel) during the 3-month period in which he swore under oath to the Supreme Court of California he would not practice law.
Ex-CFO 3-Month Riley, with Lanham and former board member and lawyer Cutler had been executives of a separate entity for many years. None of them ever disclosed their relationship in this entity to Nymox, which is a serious breach of their duties and obligations to Nymox shareholders. This separate company's address is the very same address of Mr. Lanham's office where he invoiced Nymox for legal services, all unknown to Nymox while they were associated with the Company. We have been informed by more than one individual that Lanham and 3-Month Riley have approached Nymox Shareholders in the past seeking investment in their separate company, not Nymox.
Nymox was informed by at least one individual that Lanham offered him NYMOX STOCK (diluting your, the shareholder's, interest in the company), as a kickback for investing in this separate company.
At the time Lanham introduced Cutler to Nymox and recommended him to serve on the Company's board, Cutler had filed for bankruptcy in Texas, and entered into bankruptcy in early 2016, rendering him unauthorized to be a member of the board. Neither Lanham nor Cutler ever informed Nymox of this.
Lanham and 3-Month Riley highly encouraged Nymox's CEO to sign an agreement with a distributor (Ascella), informing him the agreement was mostly boilerplate, in which both Lanham and Riley could have received huge amounts of Nymox stock. In addition, Ascella's CEO Oldham would have been awarded a seat on the board, as well as 3-Month Riley, which would have dramatically changed control of Nymox.
Neither one informed Nymox's CEO or other board members of their financial interest in that agreement. Entering into that agreement could have exposed Nymox to liabilities, and would have dramatically harmed Nymox shareholders. As any responsible company would do after uncovering this obvious kick-back scheme, Lanham and Riley were immediately terminated. Bribery and kick-back schemes are not ever tolerated by any legitimate company, and shareholders are informed that these malfeasances are not being ignored.
Since their justified termination, Riley, Lanham, and Cutler have retaliated against Nymox management, spreading rumors, mistruths, and trying, but failing miserably to fool shareholders. With the full backing and funding by Ascella, they sought recourse in an underhanded legal proceeding in the Bahamas that resulted with the issuance of an Order that the Company was successful in having suspended, and which Nymox is confident will be set aside after a full hearing.
Some but not all relevant information about these terminated individuals and ex-board members and their malfeasances are summarized below:
- 3-Month Riley lied on his resume about securing $62.5 million for another company in order to gain his position as Company CFO; lied about his business relations with the other persons mentioned here; and attempted to steal 100,000 shares from Nymox treasury before he was fired after 3 months as CFO, amongst many other malfeasances. 3- Month Riley also has used stolen company property to launch his campaign for the past several months attempting to damage the company.
- Lanham, ex-general counsel concealed a history of infractions, extended suspension of law license, all concealed during the same time while being paid by the Company for legal work. Lanham has fraudulently double dipped by billing the Company for legal services (and approving his bills) while being paid many hundreds of thousands of dollars as full time General Counsel, fraudulently attempted to steal stock from the Nymox Treasury, has stolen cash from a Company account after he was terminated, and has violated a long list of confidentiality and fiduciary obligations. Lanham has stolen Company records.
- Cutler sat on the Nymox Board and did legal work for Nymox but failed to inform the Company at any time that during that time he had undergone bankruptcy, and that he had failed to keep his court settlement conditions of his bankruptcy, all of which disqualify him from the Company Board. He should have immediately been removed from the Board but these infractions were concealed from the Company by Cutler and Lanham.
The Company had adequate control mechanisms in place, and had no reason to suspect any malfeasance or wrongdoing by Lanham, Cutler, and Riley. In fact, the concealment persisted because some of the control mechanisms included review and approval by one or the other of these same individuals. Rest assured, the Company is on solid footing, and is taking every action possible to protect its shareholders' interests.
About NYMOX
Nymox is in the process of submitting applications for the approval to market the Company's first in class drug NYMOZARFEX to treat the symptoms of benign prostatic hyperplasia (BPH). BPH is one of the most common conditions affecting middle aged and elderly men throughout the world. BPH can be devastating to men who suffer from the condition. Current treatments are associated with numerous intolerable side effects including sexual problems, such as impotence and retrograde ejaculation. Medications for BPH have been associated with prostate cancer, depression, gynecomastia and other adverse effects. The majority of men stop taking the available medications due to these and other problems. Surgery is often needed for advanced BPH. Surgery is usually effective but it is not without risks, the discomforts of surgery, and BPH surgery has side effects such as permanent retrograde ejaculation for many patients.
Nymox recently reported 10-year follow-up new data on all available patients from its U.S. clinical trial of NYMOZARFEX for the treatment of low grade localized prostate cancer. The available long-term data newly assessed, confirmed that all available data shows that the NYMOZARFEX treatment had important and statistically significant benefit for reducing the long-term progression of these prostate cancers.
About NYMOZARFEX (Fexapotide)
NYMOZARFEX is given in an in-office procedure that is administered in a few minutes without need of anesthesia or analgesia. The drug has been tested in clinical trials involving overall more than 1750 patients with over 1600 injections administered including over 1200 NYMOZARFEX administrations. NYMOZARFEX has led to significant long-term improvements and has shown an excellent safety profile without the side effects normally associated with existing BPH treatments.
For more information please contact info@nymox.com or 800-936-9669.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Nymox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the need for new options to treat BPH and prostate cancer, the potential of Fexapotide to treat BPH and prostate cancer and the estimated timing of further developments for Fexapotide. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Nymox's regulatory filings, Nymox's substantial dependence on Fexapotide, Nymox's commercialization plans and efforts and other matters that could affect the availability or commercial potential of Fexapotide. Nymox undertakes no obligation to update or revise any forward looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Nymox in general, see Nymox's current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2022, and its Quarterly Reports.
For Further Information Contact:
Nymox Pharmaceutical Corporation 1-800-93NYMOX
www.nymox.com
