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Delcath Resolves Dispute With Key Shareholder

Law360 (October 10, 2006, 12:00 AM EDT) -- Medical technology company Delcath Systems Inc. said Monday that it has dropped its lawsuit against one of its largest shareholders, hedge fund Laddcap Value Partners. In exchange, Laddcap agreed to end its two-month-old attempt at replacing Delcath’s entire board of directors.

According to the deal, Laddcap principal Robert Ladd will join the Delcath board of directors immediately, and an additional independent director to be agreed upon by both parties will join the board within the next few weeks.

Additionally, Delcath will hand over 100,000 shares of...
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