Trimedyne Files Antitrust and Other Claims Against Lumenis.Business Editors & Health/Medical Writers ------------------------ IRVINE, Calif.--(BUSINESS WIRE)--Feb. 28, 2002 Trimedyne Inc. (Nasdaq:TMED TMED Transfusion Medicine ), today announced it has filed claims against Lumenis Inc. (Nasdaq:LUME LUME Light Utilization More Efficient ), in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Central District of California in Los Angeles, alleging Lumenis violated the Sherman Antitrust Act Sherman Antitrust Act, 1890, first measure passed by the U.S. Congress to prohibit trusts; it was named for Senator John Sherman. Prior to its enactment, various states had passed similar laws, but they were limited to intrastate businesses. , the Clayton Antitrust Act Clayton Antitrust Act, 1914, passed by the U.S. Congress as an amendment to clarify and supplement the Sherman Antitrust Act of 1890. It was drafted by Henry De Lamar Clayton. , the Robinson-Patman Act Robinson-Patman Act, passed by the U.S. Congress in 1936 to supplement the Clayton Antitrust Act. The act, advanced by Congressman Wright Patman, forbade any person or firm engaged in interstate commerce to discriminate in price to different purchasers of the same and the California Business and Professions Code, as well as claims alleging infringement of two of Trimedyne's U.S. Patents, trade libel, intentional interference with prospective economic advantage and unjust enrichment A general equitable principle that no person should be allowed to profit at another's expense without making restitution for the reasonable value of any property, services, or other benefits that have been unfairly received and retained. by Lumenis. Trimedyne is seeking damages, as well as exemplary and punitive damages, along with attorneys fees and costs. Marvin P. Loeb, chairman of Trimedyne, said: "We hope other laser manufacturers that compete with Lumenis will join with us in a petition to the Federal Trade Commission to take action against Lumenis' alleged unfair business practices. Lumenis is the Goliath of the medical laser business. "According to published reports, Lumenis had revenues of $478 million and a net profit of $35 million for the year ended September 29, 2001, while Trimedyne had revenues of only $7.5 million and a loss of $4.5 million, excluding charges and adjustments, for the same year. "We believe virtually all of the laser manufacturers that compete with Lumenis in the United States operated at a loss in their most recent fiscal year, none had revenues greater than about 15% of Lumenis' sales and the combined sales of all of Lumenis' competitors in the U.S. are dwarfed by Lumenis' revenues." In January 2002, Lumenis filed a lawsuit against Trimedyne alleging infringement of two of Lumenis' patents, which Trimedyne believes is completely without merit. As a result, Trimedyne filed the above counterclaims against Lumenis. Trimedyne is a leading manufacturer of surgical lasers and proprietary disposable and reusable fiber optic devices for applications in a variety of minimally invasive surgical procedures in orthopedics, urology, ENT ENT ears, nose, and throat (otorhinolaryngology). ENT abbr. ear, nose, and throat ENT ear, nose and throat. ENT Ears, nose & throat; formally, otorhinolaryngology surgery, gynecology, gastrointestinal surgery and general surgery. For product, financial or other information, visit Trimedyne's Web site at www.trimedyne.com. "Safe Harbor" Statement Under the Private Securities 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. Reform Act: Statements in this news release may contain forward-looking information the meaning of Section 27A of the U.S. Securities Act of 1993 and Section 21E of the Securities and Exchange Act of 1934. All statements, other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Some of the risks and uncertainties may be discussed in the company's most recent report on Form 10-K-SB and subsequently filed SEC reports. |
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