Sutura announces June date for shareholder complaint hearing:
This article was originally published in Clinica
Vascular suturing device manufacturer Sutura has announced that the terms of an out-of-court settlement with Synapse Funds, Go Industries and other plaintiffs will be heard on June 1 2007. The hearing will take place in the Superior Court of California and will draw a conclusion to an ongoing dispute between plaintiffs and Sutura over its merger with Technology Visions in 2005. Both Go and Synapse sought injunctive relief to prevent the consummation of pending merger, whereas Go also called for the removal of Anthony Nobles and Egbert Ratering from the Sutura board of directors. The Fountain Valley, California-based company said the settlement would allow it to focus more time on developing its SuperStitch and HeartStitch product lines and also to complete its task of finding new strategic business partners.