BIOLASE responds to Oracle Partners press release BIOLASE issued a statement in response to a press release issued by Oracle Partners L.P. announcing its nomination of four director candidates to stand for election to the BIOLASE Board of Directors at the company's 2014 Annual Meeting of Stockholders. BIOLASE shareholders are not required to take any action at this time. BIOLASE issued the following statement: "BIOLASE welcomes open communications with its shareholders and values constructive ideas that advance the Board's goal of enhancing value for all shareholders. BIOLASE is executing a robust strategic plan to build a platform on which we can leverage our Total Technology Solution™ to achieve long-term growth and deliver value to BIOLASE shareholders. The Board and management team will continue to take actions that we believe enable us to achieve this objective. On March 11, 2014, Oracle, which reports that it is a 16% shareholder of the company, filed a lawsuit in the Chancery Court of Delaware seeking a Court determination of the composition of the Board and a temporary restraining order that would preclude the Board from taking any action without the approval of four purported directors whose directorships Oracle claims to be undisputed. The company will respond to Oracle's claims in the Chancery Court. Furthermore, the Nominating and Corporate Governance Committee will consider Oracle's other nominees in due course. The date of the company's 2014 Annual Meeting of Stockholders has not yet been announced."
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