Cytyc Denies All Allegations in Class Action Lawsuit.Business/Technology Editors BOXBOROUGH, Mass.--(BUSINESS WIRE)--December 17, 2002 Cytyc Corporation (Nasdaq:CYTC) today announced that a proposed securities 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 was filed on December 13, 2002, in the United States District Court for the District of Massachusetts The United States District Court for the District of Massachusetts is the Federal district court whose jurisdiction is the Commonwealth of Massachusetts. The first court session was held in Boston in 1789. against Cytyc and two of its officers. The Complaint alleges that the defendants made materially inaccurate projections and statements regarding the Company's prospects for generating revenue and income in fiscal years 2002 and 2003. Cytyc believes that the allegations are without merit and intends to defend itself vigorously in this matter. Cytyc Corporation develops, manufactures, and markets products for medical diagnostic applications primarily focused on women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. . The ThinPrep ThinPrep™ Cytology A proprietary system–Cytec, Inc, in which specimens are obtained with a special fluid collection system and the slides for cytologic examination are spread in one-cell-thick layers. See thin prep. (R) System consists of the ThinPrep(R) 2000 Processor, ThinPrep(R) 3000 Processor, and related reagents, filters, and other supplies. Cytyc is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CYTC. Cytyc(R) and ThinPrep(R) are registered trademarks of Cytyc Corporation. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion