ICON Laser Eye Centers, Inc. Seeks a Stay in the Lawsuit by Summit Technologies Versus ICON Seeking to Block Its Use of Nidek Lasers in the U.S. Market.TORONTO--(BUSINESS WIRE)--Dec. 13, 1999-- (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. :ILEC (Incumbent Local Exchange Carrier) A traditional local telephone company such as one of the Regional Bell companies (RBOCs). Contrast with CLEC. See ELEC and TELRIC. .U.) ICON Laser Eye Centers, Inc. (CDN:ILEC.U) ("ICON or the Company") filed a motion in the Delaware Courts seeking to stay a lawsuit filed against ICON by Summit Technologies pending the outcome in the courts of claims and counterclaims of the patent litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. of VISX and Summit vs. Nidek. Mr. Simone Mencaglia, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ICON stated, "We believe that the consumer should not be hurt by the exorbitant pricing of laser vision correction charged by users of VISX and Summit lasers. We use all three lasers: Nidek, VISX and Summit; however, on the Nidek laser we charge substantially less to the patient. We will pay the $250 royalty only if forced to do so after all appeals by the U.S. courts." There are currently a total of 16,454,586 common shares of ICON issued and outstanding. ICON is a leading international provider of laser vision correction services in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. In addition to its own centers, ICON has structured strategic alliance agreements to manage affiliated ICON laser vision correction centers around the world with the intention that they will be acquired by ICON. ICON operates fixed laser centers in Canada, the USA, England and Italy, with ICON mobile units currently operating in Europe only. ICON owned and managed centers are currently operating at a rate of 3,675 procedures per month. Certain information in this document includes "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of applicable securities laws. In addition, from time to time ICON or its executive officers have made or may make forward-looking statements, orally or in writing, that involves substantial risks and uncertainties. Actual results could differ materially form those projected or suggested by any forward-looking statements as a result of a wide variety of risks, factors and conditions. Such risks include, but are not limited to, market acceptance of new products and technologies; the ability of ICON to obtain additional capital; risks that negotiated transactions in process may not be successfully completed; economic, competitive, governmental and technological factors affecting ICON's operations and markets; unanticipated events and other various factors. The reader is specifically referred to all disclosures contained in this document and in prior documents publicly disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. by ICON. |
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