Cereplast Inc (OTCMKTS:CERP) Litigation Against Magna Group and Hanover Holdings

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Las Vegas, NV -- (SBWIRE) -- 12/19/2013 -- Cereplast Inc (OTCMKTS:CERP) serves in the industry by developing and commercializing bio-based resins. Main products of the company Cereplast Compostables Resins family and the Cereplast Sustainable resins family. Compostables Resins are compostable, renewable, ecologically sound substitutes that are part of plastics. The Cereplast Sustainable resins is 90% substitute of petroleum-based content of the available plastics.

Cereplast declared that it filed a lawsuit against a company earlier this year. The lawsuit was against Magna Group and Hanover Holdings since they were involved in breach of contract regarding fair business.

Cereplast Inc says that it seeks compensatory damages for which the amount is undecided. The two companies filed request that the US District Court rejected on December 11, 2013.

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