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Lumenis Ltd.
Lumenis(R) Seeks Shareholder Approval of Proposed Class Action Settlement
March 1st, 2008
Lumenis(R) Ltd. announced 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...
Source: Law & Health Weekly (2008-03-01)
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