Palomar Medical Technologies, Inc. Message Board

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Biotech / Medical : Palomar Medical Technologies, Inc.

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To: Toni Smithson who wrote (648)	2/18/1998 10:00:00 AM
From: Ted Molczan	Read Replies (1) of 708

Toni, The status of the suit was reported in this Reuters report: moneynet.com@NEWS-P1 The suit was settled, but I find this incident puzzling. It looks like PMTI ended up having to give CC Investments its stock: "The settlement involved the redemption by CC Investments of certain Palomar stock, Ingoldsby said." The following is also interesting: "Palomar will continue its policy of redeeming convertible instruments as part of the company's equity restructuring," Ingoldsby said. I don't recall Palomar ever having announced any such policy, or an equity restructuring. I will be interested whether or not anyone asks for an explanation in tomorrow's earnings conference call. Ted Molczan molczan@fox.nstn.ca

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