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:2/12/2016)... ... ... According to an article published February 4th on mySA, robotically ... hernia repairs throughout the United States. Commenting on this article, Beverly Hills hernia repair ... has not only been expected, but it seems to be a natural result of ...
(Date:2/12/2016)... ... ... Enforcement Trends: , Back to the Future , Feb. 25, 2016 — 11:00 a.m. – ... who don’t learn from history are doomed to repeat it.” , An analysis of CDRH’s ... But that takes time. , Take a close look at the warning letters the ...
(Date:2/12/2016)... ... February 12, 2016 , ... T.E.N., ... have closed for the ISE Southeast Awards 2016. Finalists and winners of the ... ISE® Southeast Executive Forum and Awards Gala on March 15, 2016 at the ...
(Date:2/12/2016)... ... 12, 2016 , ... AssureVest Insurance Group, a locally owned insurance firm with ... will raise funds earmarked to purchase computers and software for Mrs. Harrison’s 2nd and ... is in a low-income area and has more than 60 2nd and 3rd graders ...
(Date:2/12/2016)... ... February 12, 2016 , ... Donor Network West, the organ procurement organization that ... partnership with San Ramon Regional Medical Center. Under the collaboration, the first of its ... to accommodate a more certain time frame for donor families for the recovery of ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... 12, 2016  SI-BONE, Inc., a medical device company that pioneered ... minimally invasive surgical (MIS) device indicated for fusion for certain disorders ... (NGS), the Medicare Administrative Contractor (MAC) covering the states of ... Maine , Massachusetts , Minnesota ... York , Rhode Island , ...
(Date:2/12/2016)... SAN DIEGO and SEOUL, ... -- Silicon Biosys­tems Menarini and Macrogen, Inc. today ... clinical assays and innovative procedures for precision medicine ... to combine Silicon Biosystems, DEPArray™ digital-sorting technology with ... development of tests certified under the Clinical Laboratory ...
(Date:2/12/2016)... , Feb. 12, 2016  Apellis Pharmaceuticals, ... a $47.1 million Series D preferred stock ... Management, Hillhouse Capital Group and venBio Global ... Investments, AJU IB Investment, and Epidarex Capital. The ... to further advance clinical trials in the ...
Breaking Medicine Technology: