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Massachusetts Court Rules in Favor of Volcano and Against St. Jude Subsidiary
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Optical Coherence
Tomography (OCT) image
of coronary artery |
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October 6, 2010 -- San
Diego -- Volcano Corporation (Nasdaq: VOLC) said today that the Superior
Court of Massachusetts has ruled against LightLab Imaging, Inc.
in LightLab's trade secret case against Volcano and its wholly
owned subsidiary Axsun Technologies Inc. LightLab Imaging is
a wholly owned subsidiary of St. Jude Medical, Inc. In a 16-page
decision, the Court rejected LightLab's claims for protection
of five alleged trade secrets relating to laser technologies,
and denied all of LightLab's requests for permanent injunctions.
The ruling followed a two-week trial on five of a number of trade
secret claims alleged by LightLab. A trial on the remaining trade
secret claims has not yet been scheduled. |
"We are pleased with this ruling as it validates our position regarding these purported trade secrets. Volcano will continue to vigorously defend the remaining claims in this litigation as we focus on executing our growth strategy," said
Scott Huennekens, chief executive officer of Volcano.
About Volcano Corporation
Volcano Corporation is
revolutionizing the medical device industry with a broad suite of
technologies that make imaging and therapy simpler, more informative
and less invasive. Our products empower physicians around the world
with a new generation of analytical tools that deliver more meaningful
information--using sound and light as the guiding elements. Founded
in cardiovascular care and expanding into other specialties, Volcano
is changing the assumption about what is possible in improving patient
outcomes by combining imaging and therapy together. For more information,
visit the company's website at www.volcanocorp.com. This news release contains forward-looking
statements within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. Any statements in this news release regarding
the litigation with LightLab that are not historical facts may
be considered "forward-looking statements," including statements
related to the litigation-related claims and counterclaims, and
the potential impact of such litigation. Forward-looking statements
are subject to risks and uncertainties, which may cause Volcano's
results to differ materially and adversely from the statements
contained herein. Some of the potential risks and uncertainties
that could cause actual results to differ from the results predicted
are detailed in the company's annual report on Form 10-K, quarterly
reports on Form10-Q and other filings made with the Securities
and Exchange Commission, including the current report on Form 8-K
filed September 13, 2010. Undue reliance should not be placed on
forward-looking statements, which speak only as of the date they
are made. Volcano undertakes no obligation to update any forward-looking
statements to reflect new information, events or circumstances
after the date they were made, or to reflect the occurrence of
unanticipated events.
Source: Volcano
Corporation
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