Class Action Lawsuit Against Uroplasty Dismissed
Uroplasty, Inc. (NASDAQ: UPI ), a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions, today provided an update on the class action lawsuits filed against the Company alleging possible violations of federal securities laws in relation to the delayed filing of its 10K earlier this year.
On August 22, 2013, an order for dismissal was signed regarding the class action lawsuit filed against Uroplasty by a shareholder on July 11, 2013 in the United States District Court for District of Minnesota. On August 16, 2013, the plaintiffs in a similar action that was filed on July 11, 2013 in the United States District Court for the Southern District of New York filed a notice of voluntary dismissal.
No payment or consideration of any kind was made by Uroplasty or any other defendants in connection with these lawsuits.