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The company, in a filing with the Securitiews andExchange Commission, asked shareholders not to agree to a conseng solicitation filed by the dissident grouo to replace board members with theier own choices. Last week the group, which includes former chairman and founderStephen Joffe, his son and former LCA officere Craig Joffe, former LCA CFO Alan Jason Mogel, Robert Probst, Robert Weismanj and Edward VonderBrink, filed a preliminary consen statement with the Securities and Exchange Commission to reconstitutre the board. They own about 11.4 percent of LCA’ds shares.
The shareholders cited thei ongoing concerns, including LCA’s current financial struggless and loss ofshareholder value. LCA (NASDAQ: LCAV) stoco now trades at around $2.50-$3 per down from its high of about $32 severa l years ago. LCA, in its claims that Stephen Joffe tried a similae move with acompeting firm, The company also accused him of threatening to fire physicians and employees if they don’t supporyt his bid; blaming management, rather than the economy, for the current downturh in business; and not providing a plan to improv the company, other than replacing board members.
LCA-Vision, headquartered in provides laser vision correction services under theLasikPluxs brand. The company operatexs 77 laser vision correction centers in the United States and a jointf venturein Canada.
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