April 13, 2010 (FinancialWire) — Generex Biotechnology Corp. (NASDAQ: GNBT) recently commenced legal proceedings against TheStreet.com, Inc. and Adam Feuerstein in the Supreme Court of the State of New York seeking $250,000,000 in damages for business defamation, product disparagement, and injurious falsehood.

The claims arise out of articles authored by Feuerstein and published on TheStreet.com website on March 19 and March 26, 2010, which Generex contends contained defamatory and misleading statements about it, its management, and its flagship product, Oral-lyn.

TheStreet.com has reported that the Indian government revoked its approval of Oral-lyn in March 2009.

Generex is engaged in the research, development and commercialization of drug delivery systems and technologies.

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