Cyberonics Offers Update on Hagerty Suit

Cyberonics, Inc.

today announced that the lawsuit filed by former employee Andrew Hagerty in federal district court in Massachusetts was voluntarily dismissed without prejudice by Mr. Hagerty on February 1, 2013.  The company has asserted that, under the terms of his employment, Mr. Hagerty's claims are subject to binding arbitration.  Mr. Hagerty has the right to re-file the lawsuit or to pursue a resolution through binding arbitration.