NEW YORK, NY -- (Marketwired) -- 07/09/13 -- Panache Beverages, Inc. (OTCQB: WDKA) successfully defeated the efforts of Caribbean Distillers, LLC, d/b/a Florida Distillers ("FCD"), to enjoin Panache, its CEO, James Dale, its director of investor relations, William Gerhauser, and three former employees from using allegedly confidential information provided by an FCD employee and from competing against FCD in bulk alcohol and third party bottling markets.
A Polk County, Florida judge not only dismissed FCD's motion for relief entirely after FCD failed to present sufficient evidence to support any injunctive relief against any of the defendants, but it did so without the need for Panache and the other defendants to even complete their defense to the motion. In addition, the court commented that it found compelling the brief testimony of the one witness Panache called over the two days of hearing that none of the information FCD alleged was misappropriated was, in fact, confidential.
As of July 8, 2013 a Panache Beverages, Inc. countersuit was still pending.
About Panache Beverages, Inc.
Panache Beverages, Inc., based in New York, NY, is an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands establishing its assets as viable and attractive acquisition candidates for the major global spirits companies. Panache intends to build its brands as individual acquisition candidates while continuing to develop its pipeline of new brands in to the Panache portfolio. Panache's existing portfolio contains three brands: Wodka Vodka (www.welovewodka.com), Alchemia Infused Vodka (www.alchemiainfused.com) and Alibi American Whiskey (www.alibiamerica.com).
For more information visit: http://www.panachespirits.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" "project" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward- looking statements may not occur. Factors that could cause or contribute to such differences include the ability of Information System Associates to attract customers for its services, and to continue developing innovative datacenter optimization solutions. Further information on Panache Beverages' risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-KSB for the year ended December 31, 2010 and the Form 10-QSB filed June 30, 2011. Panache Beverages does not undertake any duty nor does it intend to update the results of these forward-looking statements.
The WSR Group
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