CLASS ACTION SUIT AGAINST AEQUITRON DISMISSED
CLASS ACTION SUIT AGAINST AEQUITRON DISMISSED MINNEAPOLIS, July 20 /PRNewswire/ -- Aequitron Medical, Inc.
(NASDAQ-NMS: AQTN) announced today that a United States District Court Judge in Grand Rapids, Mich. dismissed a $30 million class action products liability claim against the company. The suit was filed by Deborah Koepnick of Reed City, Mich. on Oct. 31, 1991.
Koepnick and her attorneys claimed that Koepnick's infant child died as a result of an alleged failure of one of the company's infant apnea monitors. Aequitron President and CEO Curtis J. Olson said, "Last year, when we announced the suit had been filed, I expressed the opinion that it was without merit. We are pleased that a Federal District Court Judge has concurred with our opinion." Aequitron does not normally comment on such lawsuits because they are a normal part of today's business environment, according to Olson. This particular suit was made public last year because it could have had a material adverse affect on the company since Aequitron's primary insurance carrier from 1985 was insolvent. Aequitron Medical, Inc. designs, manufactures and markets electronic products for home health care and hospital use; and wheelchair lifts and automobile hand controls for the mobility impaired. The company's common stock is traded on the National Market System under the NASDAQ symbol AQTN. -0- 7/20/92 /CONTACT: David Neuger, 612-333-6621 or (Home) 612-699-6730, or Ed Neuger, 612-333-6621 or (Home) 612-929-0945, both for Aequitron Medical/ (AQTN) CO: Aequitron Medical, Inc. ST: Minnesota IN: MTC SU:
AL -- MN014 -- 0902 07/20/92 16:18 EDT
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|Date:||Jul 20, 1992|
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