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March 26, 2014
09:13 EDTSMASymmetry Medical Sheffield, UK manufacturing plant returns to full operations
Symmetry Medical announced that its Sheffield, UK manufacturing plant has returned to full operational activity following a minor electrical fire that occurred in its temporary Acid Shop on March 8. The refurbishment, repair and validation work on the temporary Acid Shop was completed ahead of the company's original expectations for completion in early April. The company confirmed that it projects little financial impact beyond a delay in revenue from Q1-Q2 of approximately $1M.
News For SMA From The Last 14 Days
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November 20, 2014
17:23 EDTSMARayonier Advanced Materials to replace Symmetry Medical in S&P 600 on 11/28
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November 18, 2014
17:06 EDTSMASymmetry Medical agrees to terms of settlement with plaintiff
Symmetry Medical disclosed in a filing that as previously disclosed, on September 29, a purported class action complaint was filed in the Kosciusko Circuit Court in the state of Indiana on behalf of Resolution Partners, an alleged stockholder of Symmetry Medical and all others similarly situated. The complaint names as defendants the Company, the members of the board of directors of the Company, TecoStar Holdings, Tecomet,, Genstar Capital, Tecometís sponsor, and TecoSym. The Merger Litigation relates to the Agreement and Plan of Merger, dated as of August 4 by and among the Company, Holdings, Tecomet and TecoSym. On November 18, solely to avoid the costs, risks and uncertainties inherent in litigation, and without admitting any liability or wrongdoing, the Company and the other named defendants in the Merger Litigation agreed to the terms of a settlement with the plaintiff to settle the Merger Litigation. The terms of this settlement provide, among other things, that the parties will seek to enter into a stipulation of settlement which provides for the release of all asserted claims and dismissal with prejudice of the Merger Litigation. The asserted claims will not be released, and the Merger Litigation dismissed, until such stipulation of settlement is approved by the court. If approved by the court, it is expected that the stipulation of settlement will bind the plaintiff and a putative class of shareholders of the Company. There can be no assurance that the parties will ultimately enter into a stipulation of settlement or that the court will approve such settlement even if the parties were to enter into such stipulation. Additionally, as part of the terms of the settlement, the Company has agreed to make certain additional disclosures related to the proposed transactions described in the Merger Agreement.
07:37 EDTSMAStifel to hold a conference
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