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Palomar Medical Technologies (PMTI) Signs Memorandum of Understanding Regarding Settlement of Delaware Merger Litigation



6/11/2013 9:34:14 AM

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BURLINGTON, Mass., June 10, 2013 (GLOBE NEWSWIRE) -- Palomar Medical Technologies, Inc. (Nasdaq:PMTI) today announced that it has entered into a memorandum of understanding with plaintiffs in the Delaware putative stockholder class action lawsuits described in Palomar's definitive proxy statement, dated May 23, 2013. The memorandum of understanding contemplates that the parties will enter into a stipulation of settlement with respect to the Delaware class action lawsuits. The stipulation of settlement will be subject to customary conditions, including court approval following notice to Palomar's stockholders. Pursuant to the memorandum of understanding, Palomar will file with the U.S. Securities and Exchange Commission a Current Report on Form 8-K that will contain disclosure that supplements the definitive proxy statement.

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