Advanced NMR Systems says it will defend against class action lawsuit.WILMINGTON, Mass.--(BUSINESS WIRE)--Feb. 20, 1996--Advanced NMR NMR: see magnetic resonance. Systems Inc. reported today that a class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax has been filed against Advanced NMR Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ANMR), its 61% owned subsidiary, Advanced Mammography Systems, Inc. (NASDAQ:MAMO) and certain of the directors of both companies relating to ANMR's proposed acquistion of all the shares of AMS AMS - Andrew Message System it does not now own. The complaint alleges the transaction is proposed on terms unfair to AMS shareholders and seeks to enjoin it or recover unspecified damages. ANMR believes its offer to AMS shareholders is proposed on terms that are fair. This belief is based on many factors, including a fairness opinion provided by an investment banking firm acting at the request of a special committee of the independent directors of AMS. The company is preparing proxy materials describing the proposed merger of ANMR and AMS and will make a preliminary filing of these documents with the SEC shortly. Following SEC clearance of these materials, they will be mailed promptly to AMS shareholders for a shareholder meeting anticipated to be held in late spring. Advanced NMR Systems Inc. develops and manufactures ultrafast magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. technology for clinical applications and advanced research and is a provider of diagnostic imaging and rehabilitation services through its wholly-owned subsidiary, Medical Diagnostics Inc. Its majority-owned subsidiary, Advanced Mammography Systems, Inc. has developed a dedicated MR Breast Imaging system. FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. clearance for commercial marketing of this product is pending. CONTACT: Advanced NMR Systems Inc. Eileen Kirrane 508/657-8876 or 800/229-7226 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion