Oracle Partners announces favorable litigation against Biolase Oracle Partners, Biolase's largest shareholder, announced that it has won a significant victory in its shareholder litigation against Biolase. Larry Feinberg, the Managing Member of Oracle's general partner stated: "Oracle Partners welcomes the decision of Vice Chancellor Noble of the Court of Chancery of the State of Delaware confirming the appointment of Paul Clark as a director of Biolase." The Court concluded that " the current directors of Biolase are the Undisputed Directors and Clark, who was appointed during the Meeting to the vacancy that had been created when Arrow verbally and effectively resigned; the Biolase board has one vacancy that was created when Low resigned by email after the Meeting; and Oracle is not liable to Biolase for fraud or negligent misrepresentation."
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