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PHOENIX LASER SYSTEMS SUES ASIAN INVESTORS

 FREMONT, Calif., April 9 /PRNewswire/ -- Phoenix Laser Systems Inc. (AMEX: PXS) today announced that on April 6, 1993, in the San Francisco California Superior Court, Phoenix Laser Systems Inc. filed a suit against Asian investors Sun Sun Chan, Eleanor Wong, Bernard Szeto and Wong Weng Foo (also known as Freddie Wong) seeking compensatory and punitive damages as a result of apparent misappropriation of funds by Chan for the purposes of a fraudulent and speculative real estate transaction for his own benefit, and as a result of other actions by Chan, a well-known Hong Kong businessman, in concert with the other defendants, in a plan previously concealed from the Securities and Exchange Commission to take over management and control of Phoenix. The claims against the defendants include allegations that they engineered "dumping" of Phoenix stock in an effort to depress stock prices and thereby pressure current management to accede to improper demands by Chan and his agents.
 Phoenix Laser Systems Inc. is a developer of integrated laser workstations primarily for use by the medical community. The company's initial efforts have been focused on the design, development and testing of its first product, the Phoenix Ophthalmic Laser Workstation. The company's technology permits surgery designed to correct nearsightedness, farsightedness and astigmatism, as well as a large number of eye disorders which are untreatable or only partially treatable with current technology.
 -0- 4/9/93
 /CONTACT: Jon Solow of Phoenix Laser Systems, 510-249-0300/
 (PXS)


CO: Phoenix Laser Systems ST: California IN: CPR MTC SU:

MM-SG -- SF004 -- 4545 04/09/93 12:01 EDT
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Publication:PR Newswire
Date:Apr 9, 1993
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