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Visx shares plummet
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December 7, 1999: 10:08 a.m. ET
Laser eye surgery equipment maker loses initial ruling in patent lawsuit
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NEW YORK (CNNfn) - Shares of laser eye surgery equipment maker Visx Inc. tumbled more than 40 percent in early Tuesday trading after a judge made a preliminary ruling against the company in a patent infringement case.
Santa Clara, Calif.-based Visx (VISX), which produces refractive laser technology to treat conditions such as nearsightedness and astigmatism, disclosed after Monday’s market close that a judge at the International Trade Commission issued a preliminary ruling in favor of Nidek Co. Ltd. of Japan. Visx said it will seek a review of the ruling.
Visx shares dropped 37-5/16 to 50-13/16 at the beginning of Nasdaq trading Tuesday. Shares in the firm had surged from a low of 17-1/8 a year ago to a 52-week high of 103-7/8 in July.
According to Visx, it holds more than 140 patents for its laser eye technology worldwide and has about 70 other patents pending.
-- from staff and wire reports 
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Visx
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