 Charles & Colvard Ltd, the sole manufacturer of moissanite jewels, The Most Brilliant Jewel in the World, announced that it has settled its lawsuit filed on June 16, 2008 against Jewelnet Corporation d/b/a K&G Creations under acceptable terms that are not material to the Company’s financial position in order to avoid further litigation expenses and to dispose of the case.
Charles & Colvard Ltd, based in the Research Triangle Park area of North Carolina, is the global sole source of lab-created moissanite, a unique, near-colorless jewel that is distinct from other gemstones and jewels based on its exceptional fire, brilliance, luster, durability and rarity. Charles & Colvard created Moissanite is currently used in fine jewelry sold primarily through domestic and international retailers. |