Monarch Medical PET Services, Monarch Medical Imaging Equipment, and former Monarch PET CEO Michael Abboud announced they have resolved all litigation between the parties.
Going forward, Abboud will no longer be associated with Monarch Medical PET Services.
Last year, Abboud filed suit against Monarch's board in the Superior Court of New Jersey, Essex County, in an attempt to block and reverse the board's decision to remove him from his CEO position and cease any dealings with his company.
"This settlement will permit the parties' businesses to continue operating independent of one another, and will maximize the business potential of each," according to a press release.
