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Founders & Former Executive Management Team of LCA-Vision Seek Change to Rescue Company
Date:11/21/2008

regarding minimal stock ownership in the Company, a policy they put in place.

The litany of questionable acts and disastrous decisions at the Company is long, and telling. Golden parachutes granted to Steve Straus, the Company's CEO, within the very week the Company announced disastrous operational results. The Board granting themselves more protective indemnification agreements to insulate themselves from their own decision-making "to the fullest extent of the law." Jim Brenner, the Chief Marketing Officer, abruptly terminated within one month of getting a new employment agreement, replete with a comfortable severance package and golden parachute. Shareholders could hear their money jingle in his pockets as he walked away.

As the founders and former executive management team of LCAV that led the Company to its past successes, we feel financially, ethically, and reputationally compelled to help rescue LCAV before it implodes. Having built LCAV into the industry leader it once was, brick-by-painstaking-brick, we have unparalleled insights and perspective into the disastrous mistakes that have led the Company off course. More importantly, we have the unique experience and know-how to help get the Company back on track.


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SOURCE Stephen N. Joffe
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