STAMFORD, Conn., Aug. 9 /PRNewswire/ -- On July 26, 2005, the Xmark Opportunity Funds filed a Complaint in Federal Court in Manhattan alleging, among other things, breach of contract, against CepTor Corporation (OTC.BB: CEPO) and its Chairman and CEO, William H. Pursley. When the Xmark Opportunity Funds invested in CepTor in January 2005, they acquired unregistered securities that could not be sold in the market until the Company had the Securities and Exchange Commission declare effective a "resale" registration statement covering those securities. In the definitive transaction documents, the Company promised that it would use its "best efforts" to have that registration statement declared effective by the SEC. The Xmark Funds assert in their lawsuit, among other claims, that the Company did not use its "best efforts" to have the registration statement declared effective by taking over six months to do so. The Xmark Funds further contend that this intentional delay has caused them damage due to, among other things, the changes in the market price of CepTor's stock during that long delay period. Mitchell D. Kaye, Chief Investment Officer of the Xmark Opportunity Funds, commented, "honoring obligations like the registration provisions of an investment is a cornerstone of gaining investor trust and attracting capital to a public company. Deliberately failing to honor contractual responsibilities like this casts a dark shadow over the management of CepTor and its integrity." DATASOURCE: Xmark Opportunity Funds CONTACT: Mitchell D. Kaye, Chief Investment Officer of Xmark Opportunity Funds, +1-203-653-2500

Copyright