Volcano Tentatively Exits Investor Suit Over $27M Payouts

Law360, New York (July 30, 2012, 3:35 PM EDT) -- A California federal judge on Friday tentatively tossed claims by shareholders of the former CardioSpectra Inc. that medical device company Volcano Corp. purposely withheld from them $27 million in deferred payments after it bought the company, but gave investors leave to amend the complaint.

So far, the plaintiffs have not crafted their complaint in a way that can bring a decision in their favor, U.S. District Judge Yvonne Gonzalez Rogers said. For the case to move forward, the shareholders must better show how Volcano shirked its...
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Case Title

Former Shareholders of CardioSpectra, Inc. v. Volcano Corporation and Does 1-10


Case Number

4:12-cv-01535

Court

California Northern

Nature of Suit

Contract: Other

Judge

William H. Orrick

Date Filed

March 27, 2012

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