STUART, Fla., March 26, 2013 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative U.S. manufacturing company, today announced that its counsel, Leopold Law, has issued the following press release:
The American Arbitration Association issued a ruling in favor of Ecosphere Technologies, Inc. ("Ecosphere") last Friday, mandating that hearings in a $300 million demand against Halliburton Energy Services, Inc. will be held in Miami, FL. The ruling came after Halliburton petitioned to have the venue changed to Houston, Texas.
The demand for arbitration, filed on February 20, 2013, alleged Halliburton took and disclosed Ecosphere's trade secrets and proprietary technical, business and strategic information. Ecosphere demands $300 million in damages, alleging specifically that Halliburton both breached a non-disclosure agreement with Ecosphere, and that Halliburton stole, converted or misappropriated Ecosphere's trade secrets, all relating to Ecosphere's green technology business model to treat and recycle water used during hydraulic fracturing or "fracking" operations for oil and natural gas.
The two parties have until April 8, 2013 to agree upon three arbitrators or the arbitrators will be appointed. Upon appointment of the arbitrators a preliminary hearing will be set. Trial Attorneys Theodore Leopold and Gregory Weiss of Leopold Law, P.A. and Patent Attorney Michael Slavin of McHale & Slavin, P.A., both in Palm Beach Gardens, Florida, represent Ecosphere in this demand for arbitration.
For more information on this development and the original Demand for Arbitration press release dated February 20, 2013, please visit: http://www.leopold-law.com/press-releases
About Ecosphere Technologies
Ecosphere Technologies, Inc. (OTCBB:ESPH) is a water engineering, technology licensing and innovative U.S. manufacturing company that develops non-chemical water treatment solutions for industrial markets throughout the world. The Company is a leader in emerging advanced oxidation processes and has an extensive portfolio of intellectual property that includes five United States patents for the Ecosphere Ozonix® process. The patented Ecosphere Ozonix® process is a revolutionary advanced oxidation process that is currently being used by energy exploration companies to reduce costs, increase treatment efficiencies and eliminate liquid chemicals from wastewater treatment operations around the United States.
A recipient of Frost & Sullivan's 2012 North American Product Leadership Award in Disinfection Equipment for Shale Oil and Gas Wastewater Treatment and chosen as a 2013 IHS CERAWeek Energy Innovation Pioneer, Ecosphere has enabled oil and gas customers to recycle and reuse over 2.8 billion gallons of water on more than 700 oil and natural gas wells in major shale plays around the United States since 2008.
For more information, please visit www.EcosphereTech.com.
About Leopold Law
Leopold Law, P.A. is a boutique litigation firm with a proven record of fighting injustice and our attorneys have over 100 years of combined litigation experience. The firm is headquartered in Palm Beach Gardens, Florida, with offices located at 2925 PGA Boulevard and can be contacted at +1 (561) 515-1400. For more information about Leopold Law, P.A., visit the firm's website at www.leopold-law.com.
About McHale & Slavin
McHale & Slavin, P.A. limits its practice to intellectual property services, including prosecution, litigation, and related transactional services. The firm is located at 2855 PGA Boulevard, Palm Beach Gardens, Florida. For more information, visit the firm's website at www.mchaleslavin.com.
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CONTACT: Legal: Natasha Sugathapala Leopold Law +1 (561) 515-1400 Natasha@leopold-law.com Investor Relations: Gary Dvorchak, CFA Senior Vice President ICR, LLC +1 (310) 954-1123 firstname.lastname@example.org Press and Media Relations: Brian Ruby Vice President ICR, LLC +1 (203) 682-8268 email@example.com Company: Corey McGuire Director of Marketing Ecosphere Technologies, Inc. +1 (772) 287-4846 firstname.lastname@example.org
Source:Ecosphere Technologies, Inc.