| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for LCA Vision Inc. > News item |
LCA-Vision shareholder on the fence about founder's consent solicitation
By Lisa Kerner
Charlotte, N.C., Feb. 23 - LCA-Vision Inc. shareholder Eduardo Baviera Sabater and his affiliates are undecided whether or not they will consent in favor of the LCA-Vision Full Value Committee's proposals, according to a schedule 13D/A filed with the Securities and Exchange Commission on Monday.
Sabater and his affiliates have met with the company's chief executive officer, Steven Strauss, and LCA-Vision Full Value Committee members Dr. Stephen Joffe and Craig Joffe regarding the committee's consent solicitation.
The committee has begun a consent solicitation to replace the company's board of directors with Stephen Joffe, Jason T. Mogel, Robert Probst, Edward J. VonderBrink and Robert H. Weisman, it was previously reported.
The committee must obtain the necessary consents by April 9 to effect its proposed changes, the filing said.
Sabater, with a 4.1% ownership interest, said in the filing that he intends to purchase a total of up to 10% of LCA-Vision's outstanding common stock.
Strauss has urged shareholders to reject the dissident slate of director nominees.
According to Strauss in a letter to shareholders, LCA-Vision's board "has taken decisive action to fix a broken business model inherited from former management that does not work in the current economic environment."
Stephen Joffe is LCA-Vision's founder and former CEO, and Craig Joffe is the company's former chief operating officer. The third member of the committee, Alan Buckey, was formerly executive vice president of finance at LCA-Vision.
LCA-Vision Full Value Committee said previously that it is LCA-Vision's largest stockholder, owning approximately 11.4% of the Cincinnati-based laser vision correction services company's outstanding shares.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.