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LCA-Vision fires back at former executives, calls letter-writing campaign a 'distraction'
By Lisa Kerner
Charlotte, N.C., Dec. 10 - LCA-Vision, Inc.'s board of directors called the attempt by Stephen N. Joffe, Craig P. Joffe and Alan H. Buckey to regain board seats and management positions "disingenuous" after the trio abandoned LCA-Vision to "pursue alternative personal or business objectives."
Stephen Joffe is the founder and former chief executive officer of LCA-Vision. Craig Joffe is the company's former chief operating officer, and Buckey was LCA-Vision's executive vice president of finance.
The company made its comments in a Dec. 10 letter to the Joffes and Buckey that was included in a form 8-K filed with the Securities and Exchange Commission.
LCA-Vision chairman E. Anthony Woods said the board is confident the current management can execute the company's recently adopted business plan.
Woods also defended LCA-Vision's rationale for some recent actions, in particular the stockholder rights plan.
According to Woods, the Joffes and Buckey's "recent letter writing campaign has become a distraction" and said the board won't respond to the letters individually "as they tend to repeat certain themes with which we don't agree."
In a prior SEC filing, the Joffes and Buckey urged the board of directors to hold a special meeting to allow shareholders to vote on the poison pill.
The former LCA-Vision executives, with an 11.4% stake in the company, believe they can help LCA-Vision's "dire" condition by joining the board and being reappointed to executive management positions in the company, it was previously reported.
LCA-Vision is a Cincinnati-based laser vision correction services company.
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