Shareholders sue to block $17 million CryoCor deal

By Associated Press May 16, 2008 Comments (0)

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A group of shareholders has sued CryoCor Inc. and Boston Scientific Inc., seeking to block the medical device makers' $17.2 million deal.

The shareholders filed a complaint in California Superior Court, San Diego County, alleging the two companies breached their responsibilities to shareholders in making a deal for Boston Scientific to buy CryoCor for $17.2 million in cash.

The suit seeks to block the deal, or force the companies to pay shareholders compensation if the deal goes through.

CryoCor said it plans to fight the suit.

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