Endocare, Inc.

Ablation and vacuum-technology company resolves class-action litigation

Published in Physician Law Weekly, December 8th, 2004

Endocare, Inc., has reached an agreement with lead plaintiffs and their counsel in the securities class action lawsuit pending against the company and certain of its directors and former officers in the U.S. District Court for the Central District of California.

A settlement agreement has been executed and will be submitted to the court for its preliminary approval and for authorization to provide notice of its terms to class members. Under the agreement, in exchange for a release of all claims, the company and the individuals will pay a total of $8.95 million in cash.

The company's directors' and officers' liability insurance carriers will fund the...

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Source: Physician Law Weekly (2004-12-08)

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