A Delaware state judge cuts the number of directors at Biolase and constrains the board’s decision-making powers, as the dental device maker’s claims about its sales & marketing vice president come under fire from a former employer amid a proxy war. Biolase (NSDQ:BIOL) continues to swat at challenges to its leadership, after a Delaware state judge cut the board of directors and a former employer took a few shots at the dental device maker’s sales & marketing head. Biolase is enmeshed in a proxy war with activist investor Oracle Partners, which owns a 16.4% stake. Biolase said today that a Delaware court constrained its board of directors to 4 members on a “status quo” basis, pending the outcome of an Oracle lawsuit filed earlier this month.
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