Alcide Corporation Issues Announcement.Business Editors REDMOND, Wash.--(BUSINESS WIRE)--March 18, 2004 Alcide Corporation (Nasdaq:ALCD ALCD Association of Law Costs Draftsmen ALCD Analogue Libraries on Low-Cost CMOS Digital Process (ESPRIT Project 8030) ) announced today that a complaint has been filed against Alcide and its directors in the King County Superior Court King County Superior Court, the largest trial court in Washington state, is based at the King County Courthouse, 516 Third Avenue, in downtown Seattle, Washington. It also operates a juvenile facility and a Regional Justice Center in Kent, southeast of Seattle. of the State of Washington. The complaint, which purports to be brought as a class action, alleges that Alcide's directors breached their fiduciary duties in connection with their approval of the recently announced acquisition of Alcide by Ecolab Inc. (NYSE NYSE See: New York Stock Exchange :ECL) and seeks to enjoin To direct, require, command, or admonish. Enjoin connotes a degree of urgency, as when a court enjoins one party in a lawsuit by ordering the person to do, or refrain from doing, something to prevent permanent loss to the other party or parties. the transaction. The company believes that the actions of the company and the board were appropriate. |
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