Navigation Links
Lumenis(R) Seeks Shareholder Approval of Proposed Class Action Settlement
Date:2/11/2008

YOKNEAM, Israel, Feb. 11 /PRNewswire/ -- Lumenis(R) Ltd. announced today that it has scheduled a special general meeting of shareholders to seek approval and authorization, in accordance with the Israeli Companies Law, of a proposed settlement of the securities class action litigation that has been pending against the Company in the federal court in New York since 2002. Under the terms of the proposed settlement, which has been agreed to in principle by Lumenis and the lead plaintiffs on behalf of the class, a total of $20.1 million would be contributed to a settlement fund for the benefit of the class. While Lumenis itself would contribute a portion of this fund, the major portion would be paid on behalf of the defendants by the Company's insurers.

Assuming shareholder approval is forthcoming, the settlement will still be subject to a number of conditions, including the execution and preliminary court approval of a definitive stipulation of settlement, and final court approval after there has been notice to the members of the class and a hearing as to the fairness of the proposed settlement. If the settlement is finally approved by the court, the class action litigation will be dismissed with prejudice against Lumenis and the former Lumenis officers and directors who have been named as defendants.

About Lumenis Ltd.

Lumenis is Israel's largest medical device company with more than 1,000 employees worldwide. The Company invests heavily in R&D and holds a leading position in the markets in which it serves. Lumenis has over 250 patents worldwide, over 75 FDA clearances, worldwide presence in over 100 countries, and an installed base of over 70,000 systems. In December 2006, a group led by a private equity consortium LM Partners LP and Ofer Hi-Tech Group invested approximately $150 million in the Company.

Contact:

Michelle Maydan

Director of Corporate Communications

1-866-569-0597

+972-4-959-9004

e-mail: mmaydan@lumenis.com


'/>"/>
SOURCE Lumenis Ltd.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Lumenis(R) Introduces the Newest Innovations in Fractional CO2 Laser Skin Therapy
2. Mayo Clinic Seeks Mitigation for Rochester as Condition of Canadian Pacific - DM&E Railroad Merger
3. URAC Seeks Public Comment on Standards for New Pharmacy Accreditation Programs
4. NIH panel seeks to dispel stigma associated with fecal and urinary incontinence
5. Group Seeks Refinement of Knee Arthritis Treatment Guidelines
6. The Hanover Seeks to Cut Auto Rates by Up to 30 Percent or More; Shave Three Years Off States Existing Six-Year Surcharge Period
7. Leading neuroscientist seeks beauty, love and happiness
8. American Cancer Society Seeks Volunteers to Help Decide Who Gets Research Grants
9. FDA Seeks Food Recall Authority
10. Mass Financial Corp. Launches Lawsuit Against Elekta AB, Seeks Substantial Damages
11. New Legislation Seeks to Improve Access to Community Mental Healthcare
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... 2016 , ... Georgia State University College of Law is ... Answering to the increasing demand for curricular specializations, the Certificate in Intellectual Property ... land use law. ,  , “The demand for lawyers with specific knowledge in ...
(Date:5/26/2016)... ... May 26, 2016 , ... Cardiac arrhythmia is a ... on long-term patient survival, reports a team of UPMC researchers in the largest ... the Journal of Thoracic and Cardiovascular Surgery, provide critical information that will hopefully ...
(Date:5/26/2016)... , ... May 26, 2016 , ... ... Degeneration” for the Foundation Fighting Blindness, Long Island Chapter on June 4, 2016, ... public. , Dr. Maisel, founder of Retina Group of New York , ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... ... of healthcare supply chain solutions, today announced the organization has earned its ISO ... international standards and is compliant with all rules and policies associated with ISO ...
(Date:5/26/2016)... San Rafael, CA (PRWEB) , ... May 26, ... ... Studio will be offering campers a multitude of activities from daily practices, arts ... and self-confidence. , Camp Directors Amber East-D’Anna and Christy Evans have combined backgrounds ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... VMS BioMarketing as senior vice president of sales, announced Andrea Heslin Smiley , ... the company,s business development and sales team, exploring new opportunities for VMS to empower ... ... ... ...
(Date:5/24/2016)... 24, 2016 ... , la première endoprothèse à double thérapie ... l,intervention portant sur les membres inférieurs et ... OrbusNeich, entreprise mondiale spécialisée dans la fourniture ... vie, a élargi son portefeuille pour inclure ...
(Date:5/24/2016)... , May 24, 2016 ... elkaar verbindt, zodat zij collectief patiënten kunnen behandelen, hun ... is het idee achter de nieuwe en revolutionaire MDLinking ... van de Nederlandse vaatchirurg dr. Hans Flu en oncologisch ... app, die inmiddels beschikbaar is, wordt op dinsdag 24 ...
Breaking Medicine Technology: