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...
To view the full article, register now.