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AngioDynamics wins $17M in lawsuit against Biolitec

Thu, 10/04/2012 - 11:37am
Mass Device

A federal judge awards AngioDynamics nearly $17 million in damages in a breach of contract lawsuit filed against the German medical laser maker.

AngioDynamics
Biolitec

AngioDynamics (NSDQ:ANGO) won $16.5 million in partial damages last week in a breach of contract lawsuit filed against German medical laser maker Biolitec (ETR:BIB).

 Judge Lawrence Kahn of the U.S. District Court for Northern New York ruled that Biolitec, which provided laser vein ablation technology to AngioDynamics, failed to defend and indemnify the medical device company in lawsuits filed against it by Diomed and Covidien (NYSE:COV) subsidiary VNUS Medical Technologies.

Kahn also denied Biolitec's move for an interlocutory appeal and to re-open discovery and ordered his memorandum sealed for 1 year, according to court documents.

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