Case Page

 

Case Status:    DISMISSED    
On or around 06/16/2009 (Notice of voluntarily dismissal)

Filing Date: June 08, 2009

According to the complaint, on May 13, 2009, Lumenis distributed to its shareholders the Proxy, a notice and proxy statement concerning a shareholders meeting scheduled to be held on June 18, 2009, at which the terms and conditions of the Equity Financing by Lumenis will be considered for approval.

The complaint alleges the Individual Defendants are attempting to solicit shareholder proxies in support of the approval of an equity financing of the Company in which the Company intends to raise an amount of up to $15 million from LM Partners L.P. and Ofer Hi-Tech Investments Ltd., who collectively own approximately 88.65% of the ordinary shares of the Company (the "Equity Financing") with the issuance of a Proxy Statement dated May 13, 2009 (the "Proxy") that contains omissions of material fact concerning, inter alia, (i) the analyses rendered by BDO Ziv Haft Consulting & Management Ltd. ("BDO") in connection with the Equity financing; (ii) the process resulting in the Equity financing, including discussions with other potential investors; (iii) the reasons for entering into the Equity financing; and (iv) the criteria for selecting BDO to render the fairness opinion, and (v) the amount of fees BDO has or will be paid in connection with the Equity Financing.

Accordingly, the action seeks to enjoin the Equity financing and require Defendants to disseminate an accurate and complete Proxy that fully and fairly informs shareholders of all material information in a non-misleading manner prior to the shareholder vote, which is scheduled for June 18, 2009.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: Israel

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 09-CV-02545
JUDGE: Hon. Ronald M. Whyte
DATE FILED: 06/08/2009
CLASS PERIOD START: 05/13/2009
CLASS PERIOD END: 06/08/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bramson, Plutzik, Mahler & Birkhaeuser, LLP
    2125 Oak Grove Road, Suite 120, Bramson, Plutzik, Mahler & Birkhaeuser, LLP, CA 94598
    925.945.0200 925.945-8792 · info@bramsonplutzik.com
  2. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date