More Feuding Between ESC Medical Systems and Genger Group

ESC Medical Systems Ltd. (Yokneam, Israel) has filed an action in Israeli court against Arie Genger, Barnard Gottstein, and others requesting that the Court invalidate their attempt to convene a meeting of shareholders. The company also requested to enjoin the Genger Group, the moniker of the board members attempting to seize control of the company, from collecting proxies for such a meeting. This is the latest in a series of clashes between the company and the Genger Group (see ESC Schedules General Meeting, Tries to Oust Majority of Board).

Board member Dr. Shimon Eckhouse stated, "In this most recent announcement, the Genger Group has again taken action to disrupt the orderly and timely convening of a shareholders meeting in the hope that its tactics will prevent ESC's shareholders the opportunity to vote in an orderly and informed manner. Of special interest is a lack of the Genger Group's willingness to follow basic and standard proxy procedures, which allows all shareholders the opportunity to vote. We urge our shareholders to reject the Genger Group's attempt to seize control of your company without payment of a premium."

The company manufactures and markets medical devices using lasers and proprietary intense pulsed light source technology for non-invasive treatment of varicose veins and other benign vascular lesions, as well as for hair removal, skins cancer, skin rejuvenation, and other clinical applications.