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Palomar Medical
Technologies, Inc.
PMTI today announced that it has entered into a
memorandum of understanding with plaintiffs in the Delaware putative
stockholder class action lawsuits described in Palomar's definitive proxy
statement, dated May 23, 2013. The memorandum of understanding contemplates
that the parties will enter into a stipulation of settlement with respect to
the Delaware class action lawsuits. The stipulation of settlement will be
subject to customary conditions, including court approval following notice to
Palomar's stockholders. Pursuant to the memorandum of understanding, Palomar
will file with the U.S. Securities and Exchange Commission a Current Report on
Form 8-K that will contain disclosure that supplements the definitive proxy
statement.
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