MADISON HEIGHTS, Mich.,
Jan. 31, 2018 /PRNewswire/ --
InfuSystem Holdings, Inc. (NYSE American: INFU) ("InfuSystem" or
the "Company"), a leading national provider of infusion pumps and
related services for the healthcare industry in the United States, announced today it has
received notice that on January 29,
2018 the United States District Court for the Central
District of California has issued
an order dismissing, with prejudice, a putative class-action
lawsuit against the Company.
The dismissal relates to an action brought on November 8, 2016 by a purported shareholder of
the Company (Case No. 2:16-cv-08295-ODW) against the Company and
two individual defendants: Eric
Steen, the Company's former Chief Executive Officer,
President and Director; and Jonathan
Foster, the Company's former Chief Financial Officer. The
complaint asserted claims against all defendants under the
antifraud provisions of the federal securities laws and against
Messrs. Steen and Foster as control persons.
On June 19, 2017, the Company and
all defendants filed a Motion to Dismiss the amended complaint. On
December 15, 2017, the Court
dismissed the plaintiff's first amendment to the class action
compliant ("FAC"), with leave to amend. On December 20, 2017, the parties stipulated, and
the Court extended, the plaintiff's time to amend the FAC up to
January 19, 2018. As of January 19, 2018, the plaintiff never filed an
amended complaint and the Court dismissed the lawsuit with
prejudice on January 29, 2018.
About InfuSystem Holdings, Inc.
InfuSystem Holdings, Inc. is a leading provider of infusion pumps
and related services to hospitals, oncology practices and other
alternate site healthcare providers. Headquartered in
Madison Heights, Michigan, the
Company delivers local, field-based customer support and also
operates Centers of Excellence in Michigan, Kansas, California, Texas, Georgia and Ontario, Canada. The Company's stock is
traded on the NYSE American under the symbol INFU.
Forward-Looking Statements
The financial results in this press release reflect
preliminary results, which are not final until the Company's Form
10-Q for the third quarter of 2017 is filed. In addition, certain
statements contained in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended (the "Securities Act") and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act").
The words "believe," "may," "will," "estimate," "continue,"
"anticipate," "intend," "should," "plan," "expect," "strategy,"
"future," "likely," variations of such words, and other similar
expressions, as they relate to the Company, are intended to
identify forward-looking statements. However, the absence of these
words or similar expressions does not mean that a statement is not
forward-looking. Forward-looking statements include statements
relating to future actions, business plans, objectives and
prospects, future operating or financial performance, including the
preliminary financial results contained in this press release. In
connection with the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, the Company is
identifying certain factors that could cause actual results to
differ, perhaps materially, from those indicated by these
forward-looking statements. Those factors, risks and uncertainties
include, but are not limited to, the potential changes in overall
healthcare reimbursement, including Centers for Medicaid and
Medicare Services ("CMS") competitive bidding and fee schedule
reductions, sequestration, concentration of customers, increased
focus on early detection of cancer, competitive treatments,
dependency on Medicare Supplier Number, availability of
chemotherapy drugs, global financial conditions, changes and
enforcement of state and federal laws, natural forces, competition,
dependency on suppliers, risks in acquisitions & joint
ventures, U.S. Healthcare Reform, relationships with healthcare
professionals and organizations, technological changes related to
infusion therapy, the Company's ability to implement information
technology improvements and to respond to technological changes,
dependency on websites and intellectual property, the ability of
the Company to successfully integrate acquired businesses,
dependency on key personnel, dependency on banking relations and
the ability to comply with Credit Facility covenants, and other
risks associated with its common stock, as well as any litigation
to which the Company may be involved in from time to time; and
other risk factors as discussed in the Company's annual report on
Form 10-K for the year ended December 31,
2016 and in other filings made by the Company from time to
time with the Securities and Exchange Commission, including its
quarterly reports on Form 10-Q. Our annual report on Form 10-K is
available on the SEC's EDGAR website at
www.sec.gov, and a copy may also be obtained by
contacting the Company. All forward-looking statements made in this
press release speak only as of the date hereof. We do not intend,
and do not undertake any obligation, to update any forward-looking
statements to reflect future events or circumstances after the date
of such statements, except as required by law.
Additional information about InfuSystem Holdings, Inc. is
available at www.infusystem.com.
CONTACT:
|
Joe Dorame, Joe Diaz
& Robert Blum
|
|
Lytham Partners,
LLC
|
|
602-889-9700
|
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SOURCE InfuSystem Holdings, Inc.