Shareholders Accuse Bovie Board Of Mismanagement

Law360, New York (September 7, 2011, 12:29 PM EDT) -- Bovie Medical Corp. shareholders sued the medical device maker's board of directors and executives in Florida federal court on Tuesday, saying their misconduct led to losses in patent infringement suits and poor employment decisions such as hiring executives' relatives.

In a shareholder derivative suit alleging breach of fiduciary duty and bad faith, plaintiffs Bruce A. Arbit and Curt Coulter say that since at least 2008, the defendants' actions have caused Bovie to be involved in repeated litigation, lose corporate opportunities and miss chances to be picked...
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