Second Circuit Affirms Dismissal of Complaint Against Vystar In the Case Of EMA Financial LLC v. Vystar Corp.

Core Insights - Vystar Corporation achieved a significant legal victory in the case against EMA Financial, with the New York federal district court denying EMA's claim for $4,226,187 related to a toxic convertible note issue [1][2] - The Second Circuit Court upheld the district court's decision, sending the case back for a determination of legal fees to be awarded to Vystar, which has accrued approximately $1 million in legal fees since 2018 [3] Legal Proceedings - The initial ruling by the district court dismissed EMA Financial's complaint and awarded Vystar legal fees, although it did not grant Vystar's counterclaim for damages [1][2] - Both parties appealed the district court's decision, with EMA seeking to reverse the dismissal and Vystar cross-appealing to reverse the denial of its counterclaims [2] Company Background - Vystar Corporation, based in Worcester, Massachusetts, is known for its RxAir® UV light air purification products and Vytex® Natural Rubber Latex, which is a patented, environmentally safe material used in various consumer and medical products [5]