Cardiac Science (NASDAQ:DFIB)
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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/