A state appeals court has reinstated a complaint claiming that a medical technology company breached a settlement agreement in a federal class action, reversing the lower court and writing that “documentary evidence … can be read to support the allegation that the parties had agreed upon all the material terms of the settlement.”

The ruling by the Appellate Division, First Department court gives new life to a breach-of-contract action lodged by Gordon Ostojic, who was one of 55 plaintiffs in a class action that had alleged Life Medical Technologies, Inc. violated federal and state securities laws by using fraud to secure investments in a private offering it made, according to the First Department decision and court records.

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