ELMSFORD, N.Y. & MINNEAPOLIS--(BUSINESS WIRE)--June 1, 2005--BioScrip, Inc.(NASDAQ:BIOS), today announced that the Minnesota District Court, Fourth Judicial District, Hennepin County has dismissed without prejudice Plaintiffs' amended complaint against Chronimed Inc. and its directors. On March 12, 2005, Chronimed merged with MIM Corporation and the combined company changed its name to BioScrip, Inc.
The action, originally commenced on August 16, 2004, generally alleged breaches by Chronimed's directors of their respective fiduciary duties of loyalty, due care and fair dealing by approving the then proposed terms of the merger. Because the case was dismissed without prejudice, one or more plaintiffs may commence a new action in a manner consistent with the District Court's ruling. The Company has no information as to whether a plaintiff will commence a new action and if so, on what time frame a plaintiff might do so.
