Back to ZLTQ
ZELTIQ® Announces Criminal Judgments in Its Favor Ordered by Court in South Korea

ZELTIQ Aesthetics, Inc. (Nasdaq: ZLTQ), a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform, announced that criminal judgments and monetary fines have been ordered by Seoul Central District Court in South Korea against two individuals for false and exaggerated advertising of a cooling device that has not been approved for fat reduction. ZELTIQ is the only company that has received approval from the Korea Food and Drug Administration (KFDA) to market and sell a device that achieves fat reduction through controlled cooling.

Criminal proceedings in South Korea were instituted against two individuals who were using Internet pages and blogs to falsely advertise that other cooling devices had the same fat reducing effect as ZELTIQ’s approved device. After a police investigation into these advertising activities, criminal proceedings were initiated. Seoul Central District Court has now imposed monetary fines and finalized criminal judgments on the counts of false and exaggerated advertising. The Korean police are also currently investigating additional advertising activities and acts of trademark infringement.

Steve Atkinson, SVP of International at ZELTIQ, commented, "ZELTIQ has invested substantial efforts to develop safe and effective devices that are approved for fat reduction and has secured regulatory approvals for those devices. ZELTIQ will vigilantly pursue persons or companies that are attempting to confuse or mislead consumers or physician-providers by inferring that any cold platform technology can do what the CoolSculpting System uniquely has proven we can safely do: reduce exercise-resistant fat non-surgically. We will not stand idly by while poseurs try to muddy our clear advantages.”

Atkinson added, “We firmly believe that the recent criminal judgments in South Korea will deter others from marketing and selling products that do not use proven technology or have the same regulatory approvals as ZELTIQ.”

For more information on ZELTIQ, visit www.coolsculpting.com.

About ZELTIQ® Aesthetics, Inc.

ZELTIQ Aesthetics is a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform. The Company's first commercial product, the CoolSculpting® System, is designed to selectively reduce stubborn fat bulges that may not respond to diet or exercise. CoolSculpting is based on the scientific principle that fat cells are more sensitive to cold than the overlying skin and surrounding tissues. CoolSculpting utilizes patented technology of precisely controlled cooling to reduce the temperature of fat cells in the treated area, which is intended to cause fat cell elimination through a natural biological process known as apoptosis, without causing scar tissue or damage to the skin, nerves, or surrounding tissues. ZELTIQ developed CoolSculpting to safely, noticeably, and measurably reduce the fat layer within a treated fat bulge without requiring the patient to diet or exercise.

(c) 2014 Business Wire, Inc., All rights reserved. All of the news releases and other content contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. Any copying or reproduction (other than for an individual user's personal reference), redistribution, reposting or other transmission or communication is expressly prohibited without prior written permission of Business Wire, Inc
Back to ZLTQ
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki