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Thousands of dollars, except per-share amounts and numbers of shares
On July 2, 2004, the Company entered into an agreement to
settle the lawsuit filed against it by Retractable Technologies,
Inc ("RTI"). RTI alleged that the Company and other defendants
conspired to exclude it from the market and to maintain
the Company's market share by entering into long-term contracts
in violation of state and Federal antitrust laws. RTI also
asserted claims for business disparagement, common law conspiracy,
and tortious interference with business relationships.
The settlement was paid on July 6, 2004 and was in exchange
for a general release of all claims (excluding certain patent matters)
and a dismissal of the case with prejudice, which means
this case cannot be re-filed. The Company recorded the related
pretax charge of $100,000 ($63,000 after taxes and approximately
24 cents per diluted share) in the Company's results of
operations in the third quarter of 2004.
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