Cases & Investigations
Lensar, Inc. Securities Litigation
Type: Current Cases
Case Number: 23-692-GBW
Defendant(s): Lensar, Inc.
Stock Symbol: NasdaqCM: LNSR
Court: United States District Court for the District of Delaware
The proxy statement fails to disclose, for example, that Lensar had at the time of the capital raise a non-public budget that projected a fast and significant increase in the profitability of the company because of this newly approved treatment system, that other, non-dilutive capital raise options were available other than the deal with North Run, that the company had an approved $10 million line of credit, that the company was negotiating a debt transaction with another Lensar shareholder that was abruptly discontinued, that other shareholders other than North Run had reached out to Lensar about participating in a capital raise, and although the Board recommends voting for the proposal, the proxy statement fails to disclose why the Board makes this recommendation, especially since there is no apparent rational reason to approve North Run becoming the company’s controlling shareholder when approval was not a condition of the $20 million capital raise and no such approval is otherwise necessary.
Wolf Popper is asking the court for expedited discovery and anticipates seeking to enjoin the August 1 vote date until such time as the proxy statement’s material omissions are corrected.
The case is Schaper v. Lensar, Inc., et al., C.A. No. 23-692-GBW (D. Del.).
Contact Instructions
- Phone: Carl Stine – (212) 451-9631
- Phone: Chet Waldman – (212) 451-9624
- Phone: Adam Blander– (212) 451-9667
- Email: Outreach@wolfpopper.com