Cardiac Science Announces Agreement to Dismiss Class Action Lawsuit Related to Proposed Merger
27 Juin 2005 - 2:30PM
PR Newswire (US)
Cardiac Science Announces Agreement to Dismiss Class Action Lawsuit
Related to Proposed Merger IRVINE, Calif., June 27
/PRNewswire-FirstCall/ -- Cardiac Science, Inc. (NASDAQ:DFIB), a
leading manufacturer of life-saving automatic public-access
defibrillators today announced that it has executed a memorandum of
understanding with plaintiffs' class counsel to dismiss the class
action lawsuit pending in the Delaware Chancery Court. The lawsuits
related to Cardiac Science's proposed merger with Quinton
Cardiology Systems, Inc. (NASDAQ:QUIN). Plaintiffs' class counsel
has agreed to withdraw their motion for preliminary injunction and
release all parties associated with the transaction regarding
disclosure claims involving the merger. Counsel for an
institutional shareholder in a related case has also entered into
the same agreement. In addition, plaintiffs' class counsel in the
Delaware class action has agreed to dismiss all remaining damage
claims without prejudice. In exchange for such agreements, Cardiac
Science agreed to make additional disclosures in its registration
statement on Form S-4 filed with the Securities and Exchange
Commission in connection with the proposed merger transaction. A
final settlement agreement is subject to approval by the Delaware
Chancery Court. About Cardiac Science Cardiac Science develops,
manufactures and markets a complete line of Powerheart(R) brand,
automated public access defibrillators (AEDs), and offers
comprehensive AED/CPR training and AED program management services
that facilitate successful deployments. The company makes the
Powerheart(R) CRM(R), the only FDA-cleared therapeutic patient
monitor that instantly and automatically treats hospitalized
cardiac patients who suffer life-threatening heart rhythms. Cardiac
Science also manufactures its AED products on a private label basis
for other leading medical companies such as Nihon Kohden (Japan),
Quinton Cardiology Systems and GE Healthcare. For more information
please visit http://www.cardiacscience.com/ or call (949) 797-3800.
Contact: Rene Caron (Investors) Roderick de Greef Len Hall (Media)
EVP and CFO Allen & Caron Inc. Cardiac Science,Inc. (949)
474-4300 (949) 797-3800 DATASOURCE: Cardiac Science, Inc. CONTACT:
Investors, Rene Caron, , or Media, Len Hall, , both of Allen &
Caron Inc., +1-949-474-4300, for Cardiac Science, Inc.; or Roderick
de Greef, EVP and CFO of Cardiac Science,Inc., +1-949-797-3800 Web
site: http://www.cardiacscience.com/
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