Navigation Links
Volcano Corporation Announces Litigation Status
Date:2/5/2010

SAN DIEGO, Feb. 5 /PRNewswire-FirstCall/ -- Volcano Corporation (Nasdaq: VOLC) today announced that the jury in the litigation filed by Lightlab Imaging, Inc. on January 7, 2009 in the Superior Court of Massachusetts, Suffolk County reached a verdict against Volcano and its wholly owned subsidiary, Axsun Technologies.  In December 2008, Volcano acquired Axsun, which had an agreement to supply tunable lasers to Lightlab for use in Lightlab's OCT (Optical Coherence Technology) imaging products until April 2016, with exclusivity in the field of coronary artery imaging expiring in April 2014.  Since the acquisition, Axsun has continued to supply lasers to Lightlab.  The jury findings included that the contract specification for the laser Axsun supplies to Lightlab is a trade secret of Lightlab, that Axsun agreed not to sell any tunable lasers for use in cardiology imaging to any third party during the exclusivity period in the contract, and that Axsun breached its contract with Lightlab.  The jury further found that Volcano intentionally interfered with Lightlab's advantageous business relationship with Axsun. The jury was not charged with determining damages, which, if any, would be established in a second jury trial.

Volcano intends to appeal the jury verdict and is not in the position to estimate the possible loss attributable to this verdict. Volcano does not believe that this development will have a material impact on Volcano's OCT program or Axsun's business.

Volcano Corporation offers a broad suite of devices designed to facilitate endovascular procedures, enhance the diagnosis of vascular and structural heart disease and guide optimal therapies. The company's intravascular ultrasound (IVUS) product line includes ultrasound consoles that can be integrated directly into virtually any modern cath lab. Volcano IVUS offers unique features, including both single-use digital and rotational IVUS imaging catheters, and advanced functionality options, such as VH® IVUS tissue characterization and ChromaFlo®. Volcano also provides functional measurement (FM) consoles and single-use pressure and flow guide wires and is developing a line of ultra-high resolution Optical Coherence Tomography (OCT) systems and catheters. Currently, more than 4,700 Volcano IVUS and FM systems are installed worldwide, with approximately half of its revenues coming from outside the United States. Volcano's wholly-owned subsidiary, Axsun Technologies, develops and manufactures optical monitors, lasers and optical engines used in telecommunications, spectroscopy and other industrial applications. For more information, visit the company's website at www.volcanocorp.com.

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this news release regarding the LightLab litigation that are not historical facts may be considered "forward-looking statements," including statements relating to the impact of the LightLab litigation.  Forward-looking statements are subject to risks and uncertainties, which may cause Volcano's results to differ materially and adversely from the statements contained herein.  Some of the potential risks and uncertainties that could cause actual results to differ from the results predicted are detailed in the company's annual report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the Securities and Exchange Commission.  Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Volcano undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.

SOURCE Volcano Corporation

RELATED LINKS
http://www.volcanocorp.com

'/>"/>

SOURCE Volcano Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Volcano Corporation Announces Preliminary Record Revenues for Fourth Quarter 2009; Total Year Revenues are Expected to Exceed Prior Guidance
2. Volcano Corporation Commends the Elevation of FFR to Level of Evidence A in New PCI Guidelines
3. Volcano Announces Installed Base Growth Milestone
4. Axsun Technologies, A Wholly-Owned Subsidiary of Volcano Corporation, Announces Breakthrough Integrated Light Source Architecture for Optical Coherence Tomography (OCT) Imaging
5. Volcano Corporation Presentation at Canaccord Adams Conference to Be Webcast
6. Volcano Corporation Schedules Third Quarter Conference Call, Webcast
7. Volcanos VH(R) IVUS Technology Used in Imaging Study of GlaxoSmithKlines Novel Investigational Compound, Darapladib
8. Volcano Announces Participation in SATURN Clinical Trial Sponsored by AstraZeneca
9. Volcano Sponsors First Study Designed to Determine if IVUS Can Identify Patients at Risk for Stent Thrombosis and to Demonstrate the Benefit of IVUS Guidance for Procedural Outcome
10. Oxford Finance Corporation Closes $25 Million Credit Facility with EUSA Pharma
11. Vystar Corporation Engages The Investor Relations Group
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... Bracket , a leading clinical trial technology ... outcomes platform, Bracket eCOA (SM) 6.0, at the 52 ... 30, 2016 in Philadelphia , Pennsylvania.  A ... product of its kind to fully integrate with RTSM, will ... 6.0 is a flexible platform for electronic clinical outcomes assessments ...
(Date:6/23/2016)... INDIANAPOLIS , June 23, 2016 ... Tomorrow,s Leaders Scholarship is any indication, the future is ... online at www.diabetesscholars.org by the Diabetes Scholars ... in the way of academic and community service excellence. ... program since 2012, and continues to advocate for people ...
(Date:6/23/2016)... -- Revolutionary technology includes multi-speaker listening to ... leaders in advanced audiology and hearing aid technology, has ... the world,s first internet connected hearing aid that opens ...      (Photo: http://photos.prnewswire.com/prnh/20160622/382240 ) , ... firsts,: , TwinLink™ - the first dual ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... ... today announced its strategic partnership with Connance, a healthcare industry leader providing ... companies’ proven, proprietary technology combine to provide health systems, hospitals and ambulatory ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, ... the 2016 Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, where ... city’s history as home to some of the world’s leading providers of cereal and ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are confused ... endometriosis. These women need a treatment plan to not only alleviate symptoms and ... help for preservation of fertility and ultimately achieving a pregnancy. The specialists at ...
(Date:6/25/2016)... ... 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX users can ... CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over 1,300 hand-drawn ... X . Simply select a ProHand generator and drag it above media or text ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, ... at Work award to iHire in recognition of their exemplary accomplishments in worksite health ... annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. ...
Breaking Medicine News(10 mins):