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:10/13/2017)... ... ... PurhealthRX , a leading Health and Nutrition Company, is announcing the ... spectrum CBD oil will revolutionize the rapidly growing CBD market by reducing the amount ... into liquid products, while reducing costs to end users. , The team of researchers ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Many families have ... many long-term care insurance companies have a waiver for care if the client has ... period, when the family pays for care, is often waived, so the benefits from ...
(Date:10/13/2017)... ... ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh, has released ... understood books in the Holy Scriptures, Revelation. The Book of Revelation paints a picture ... Many have tossed it off as mere rubbish, but Yisrayl Hawkins says that is ...
(Date:10/13/2017)... ... 2017 , ... “America On The Brink”: the Christian history of the United ... the creation of published author, William Nowers. Captain Nowers and his wife, Millie, ... spent thirty years in the Navy. Following his career as a naval aviator ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... products to meet the demand of today’s consumer and regulatory authorities worldwide. From ... probiotic experts and tested to meet the highest standard. , These products ...
Breaking Medicine News(10 mins):
(Date:10/10/2017)...   West Pharmaceutical Services, Inc. (NYSE: WST), ... administration, today shared the results of a study highlighting ... intradermal administration of polio vaccines. The study results were ... 2017 by Dr. Ondrej Mach , Clinical Trials ... (WHO), and recently published in the journal Vaccine. ...
(Date:10/5/2017)... 5, 2017  In response to the nationwide ... Maxillofacial Surgeons (AAOMS) released prescribing recommendations that urge ... used as a first-line therapy to manage a ... Recognizing the value and importance ... "Opioid Prescribing: Acute and Postoperative Pain Management" stresses ...
(Date:10/4/2017)... 2017  According to the Centers for Disease Control and Prevention (CDC), ... PhysicianOne Urgent Care is helping communities across Massachusetts , ... by offering no-cost* flu shots through the end of the month. ... insurance regulations. ... get a flu shot is by the end of October, according to ...
Breaking Medicine Technology: