Diagnostic Products Corporation Announces Plaintiffs In Shareholder Derivative Action Have Filed First Amended Complaint
Published: Jul 27, 2006
LOS ANGELES--(BUSINESS WIRE)--July 26, 2006--Diagnostic Products Corporation (NYSE:DP - News) 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.