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Possis says court upholds dismissal of shareholder lawsuit

Mon Mar 24, 2008 5:33pm EDT

March 24 (Reuters) - Medical device maker Possis Medical Inc POSS.O said a U.S. court of appeals affirmed the federal district court's dismissal of a shareholder lawsuit.

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The lawsuit, which was filed in June 2005, arose from allegations concerning public statements before the company's public disclosure of its AiMI clinical study results in August 2004.

In March last year, Possis said plaintiffs in the securities litigation had appealed against a court's decision dismissing the lawsuit filed against the company and two of its executive officers. (Reporting by Sreerupa Mitra in Bangalore; Editing by Deepak Kannan)

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