IRVINE, Calif.--(BUSINESS WIRE)--BIOLASE, Inc. (BIOL), the world’s leading dental laser manufacturer and distributor, announced today that non-executive board member Federico Pignatelli yesterday withdrew his lawsuit against the Company and four other members of BIOLASE’s board of directors. Mr. Pignatelli filed the lawsuit on July 21, 2014 in Delaware Chancery Court and had sought, among other things, expedited proceedings with respect to his claims relating to his attempt to nominate candidates for election to BIOLASE’s board of directors, the Company’s and certain directors’ alleged breach of an agreement to nominate Mr. Pignatelli as a director candidate at the upcoming annual meeting, voting rights of shares issued in the Company’s July 22, 2014 “at market” private placement and the Company’s recently enacted bylaw amendments, including the fee-shifting bylaw provision. The BIOLASE annual meeting remains scheduled for August 27, 2014.
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