UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): December 16,
2010
AMERICAN BIO MEDICA
CORPORATION
(Exact
name of registrant as specified in its charter)
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New York
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0-28666
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14-1702188
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(State
or other jurisdiction of
incorporation)
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(Commission
File Number)
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(IRS
Employer Identification
Number)
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122
Smith Road, Kinderhook,
NY
12106
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(Address
of principal executive offices) (Zip
Code)
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Registrant’s
telephone number, including area code: 518-758-8158
Not
applicable
(Former
name or former address, if changed since last report.)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see
General Instruction A.2. below):
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
8.01 Other Events
On
December 16, 2010, American Bio Medica Corporation (“ABMC”) filed a complaint in
the Supreme Court of the State of New York in Columbia County against Martin R.
Gould (“Gould”), Jacqueline Gale (“Gale”), Advanced Diagnosticum Products, Inc.
(“ADPI”) and Biosure, Inc. (“Biosure”), together the “Defendants”. The Complaint
alleges that Gould, ABMC’s former Chief Science Officer and Executive Vice
President of Technology and Gale, ABMC’s former Vice President of Manufacturing
and Development, were performing illegal, competitive, employment-related
services for ADPI and Biosure during their employment with ABMC, and using ABMC
resources to perform such services. ABMC also alleges that Gould and Gale were
performing such services in their capacity as employees and/or officers of ADPI
and Biosure. The Defendants continue to engage in these illegal actions,
therefore, in addition to the compensatory and punitive damages noted below,
ABMC is also seeking an injunction restraining the Defendants from further
engaging in such illegal actions.
In the
Complaint, ABMC asserts claims of breach of duty of loyalty, breach of contract,
violation of fiduciary duty and unfair competition and conversion specifically
against Gould, and claims of breach of duty, violation of fiduciary duty and
unfair competition and conversion specifically against Gale. In addition to
these claims, ABMC asserts claims of conversion, tortious interference with
contract, interference with prospective advantage and common law
misappropriation of trade secret information against all Defendants. ABMC is
seeking judgment on nine (9) causes of action, and is seeking compensatory
damages against Defendants in such amount as may be established at trial;
together with punitive damages in the amount of one million dollars ($1,000,000)
for each cause of action in the Complaint.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
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AMERICAN
BIO MEDICA CORPORATION (Registrant)
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Dated:
December 22, 2010
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By:
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/s/ Melissa A.
Waterhouse
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Melissa
A. Waterhouse
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Vice
President & Chief Compliance Officer
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Corporate
Secretary
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