FTC files notice of appeal. This may present a buying opportunity tomorrow.
biz.yahoo.com
Monday June 21, 6:30 pm Eastern Time
Company Press Release
VISX Confident in Face of FTC Appeal
SANTA CLARA, Calif.--(BUSINESS WIRE)--June 21, 1999--VISX, INCORPORATED
(Nasdaq/NMS:VISX - news) today announced that the Federal Trade Commission (FTC) has filed a notice of appeal of the decision issued earlier this month by the FTC administrative law judge.
As previously announced, the judge ordered that the FTC's complaint against VISX regarding certain patents be dismissed.
VISX is confident that the judge ruled correctly. Given the FTC's extensive investigation and the thorough six-week trial, VISX believes that the judge considered the FTC's best arguments when he wrote his well-reasoned, 145-page ruling for VISX. This appeal is not a surprise, however, as the FTC almost always appeals adverse administrative rulings to the full Commission. The Commission is expected to review the case and issue its final decision in approximately one year. VISX plans to appeal any adverse Commission decision to a federal court of appeals.
VISX holds more than 50 United States laser vision correction patents and has many other patents pending. The patents that are the subject of this appeal are only a subset of the intellectual property licensed by VISX to its customers in the United States.
The foregoing contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. It is not possible to accurately predict the outcome of this appeal or any further appeals. Discussion of litigation in which VISX is involved, as well as other factors affecting the Company's business, is contained in the Company's most recent filings with the Securities and Exchange Commission, including VISX's Annual Report and Form 10-K for the year ended December 31, 1998 and VISX's Form 10-Q for the period ending March 31, 1999.
VISX is a worldwide leader in the development of refractive laser technology. VISX systems are commercially available in the United States and markets worldwide.
------------------------------------------------------------------------
Contact:
VISX, Inc.
Lola Wood, 877/463-6847
ir@visx.com
visx.com |
