February 10, 2011 --
San Diego -- The Superior Court of Massachusetts
entered a Final Judgment today incorporating the Court's
earlier rulings rejecting the
claims of LightLab Imaging that either Volcano Corporation
(www.volcanocorp.com) or its wholly owned subsidiary Axsun
Technologies, Inc. used LightLab trade secret information in
the development of the Volcano Optical Coherence Tomography
("OCT") System or the Axsun OCT laser. LightLab is an indirect
wholly-owned subsidiary of St. Jude Medical, Inc.
"After two-plus
years of litigation, we are gratified by the Court's decision.
Neither Volcano nor Axsun used any of LightLab's purported trade
secrets in Volcano's development of its OCT System, or Axsun's
OCT tunable laser," said Scott Huennekens, President and Chief
Executive Officer of Volcano. "With LightLab's trade secret allegations
now behind us, we will continue to focus our energy on developing
key products that improve patient care," said Huennekens. |