Diagnostic Products (NYSE:DP)
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From May 2019 to May 2024
Diagnostic Products Corporation (NYSE:DP) announced
today that plaintiffs in their pending shareholder derivative action,
Nicholas Weil, City of Tamarac General Employees' Pension Trust Fund
and City of Tamarac Police Officers' Pension Trust Fund, have filed a
first amended complaint in the United States District Court of the
Central District of California, Case No. CV06-00066DDP. The amended
complaint challenges the proposed merger of DPC with a wholly owned
subsidiary of Siemens Medical Solutions USA, for a number of reasons,
including on the basis of fairness of price, disclosure and conflicts
of interest. The amended complaint seeks to enjoin or rescind the
proposed merger. The Company believes that the claims are without
merit and intends to vigorously defend itself in this case.
About Diagnostic Products Corporation
Diagnostic Products Corporation, founded in 1971, is a leader in
the global in vitro diagnostics market. DPC's product offering
includes the widely accepted IMMULITE(R) series of immunoassay
systems, more than 75 immunoassays and an expanding menu of essential
specific allergens and allergy panels that are run just like other
immunoassays. DPC also designs and manufactures automated laboratory
instrumentation and automation solutions that provide fast, accurate
results while enabling our customers to do "more with less" in a
leaner laboratory. DPC's combined chemistry and immunoassay menu is
one of the largest and most diversified available, covering most
laboratory tests requested. In fiscal 2005 (December 31), DPC reported
sales of $481 million and income from operations of $96 million.
Additional information can be found on DPC's website at
www.dpcweb.com.