Contact Information:


The Stephan Co.


1850 W. McNab Rd.


Ft. Lauderdale, FL 33309


email: steverolle@thestephanco.com            


Steve Rolle, Chief Financial Officer
954-971-0600


 


The Stephan Co. Announces Entry of a Verdict in the Litigation brought against it and its subsidiaries by Trevor Sorbie International, Plc.


 


On June 19, 2013 the trial court in Trevor Sorbie International, Plc. v. Sorbie Acquisition Co.  entered a judgment  in favor of Trevor Sorbie International, Plc .  The court ruled that The Stephan Co. must convey all right, title and interest in the trademarks for the Trevor Sorbie hair products to Trevor Sorbie International, Plc.  The court also entered a judgment for $1,996,928.52 against Sorbie Distributing Company.  Sorbie Distributing Company is a wholly owned subsidiary of the Sorbie Acquisition Co.  Sorbie Acquisition Co is a wholly owned subsidiary of The Stephan Co. 


 


The sole operations and assets of the Sorbie Distributing Company relate to the sale of Trevor Sorbie hair products which in the recent years has been an approximately $200,000 a year revenue business.  Sorbie Distributing Company has minimal assets. 


 


The court also ruled that the value of the Trevor Sorbie hair product trademarks would reduce the judgment entered against Sorbie Distributing Company.  The Court is to determine the value of the trademarks at a later date upon motion of either party to the litigation.  Trevor Sorbie International, Plc, as the prevailing party, may also apply to the Court for an award of costs and attorneys fees.    Either of the litigants also has the right to appeal the verdict, for thirty days from its entry.  The Stephan Co. has not decided whether to appeal the verdict.  Trevor Sorbie International, Plc may appeal the verdict, as it was not successful in obtaining a judgment against The Stephan Co, which it had sought. 


 


The case Trevor Sorbie International, Plc. v. Sorbie Acquisition Co. (Case No. 05-14908-09) was instituted in March 2007, in the Circuit Court of the 17th Judicial Circuit in and for Broward County, Florida.   In the litigation, Trevor Sorbie International, Plc sought to collect against The Stephan Co. a judgment of $720,139 plus interest that was entered against Sorbie Acquisition Co. by a Pennsylvania state court on October 30, 2005.  The Pennsylvania state court entered the judgment based on a arbitration award arising from Sorbie Acquisition Co. owing past due royalty payments to Trevor Sorbie International, Plc.  At the time of the instant litigation, the Pennsylvania state court judgment had increased as a result of accrued interest to $1,996,928.52.      


 


About The Stephan Co.


The Stephan Co. (OTCPink Market: STPCO) is the manufacturer of beauty and grooming products and has been serving beauty and barber industry since 1897.  The Company?s web site is www.thestephanco.com.


Certain statements and information included in this press release constitute ?forward-looking statements? within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases ?will likely result,? ?are expected to,? ?will continue,? ?is anticipated,? ?estimate,? ?projected,? ?intend to? or similar expressions are intended to identify ?forward-looking statements? within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources.


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