Health & Fitness
Health and Fitness
Health and Fitness
Wed, March 30, 2011Tue, March 29, 2011Mon, March 28, 2011Sun, March 27, 2011Fri, March 25, 2011Thu, March 24, 2011Wed, March 23, 2011Tue, March 22, 2011Mon, March 21, 2011Sun, March 20, 2011Fri, March 18, 2011Thu, March 17, 2011Wed, March 16, 2011Tue, March 15, 2011Mon, March 14, 2011Sun, March 13, 2011Sat, March 12, 2011Fri, March 11, 2011Thu, March 10, 2011Wed, March 9, 2011Tue, March 8, 2011HearUSA Responds to Siemens Filing
Published in Health and Fitness on Thursday, March 17th 2011 at 13:05 GMT by Market Wire
WEST PALM BEACH, FL--(Marketwire - March 17, 2011) - HearUSA, Inc. (
"We have a legitimate dispute with Siemens concerning this alleged shortfall in our payment to them on the sale of our Canadian assets," said Stephen J. Hansbrough, chairman and chief executive officer. "We believe efforts by Siemens to take this dispute out of the court and unilaterally declare us in default is overbearing and inappropriate. We have tried to work with Siemens and have otherwise been in compliance with all of our agreements with them. Their recent unwillingness to consent to a proposed subordinated financing by the Company has delayed achievement of our short-term objectives. We will vigorously defend our rights in the New York courts under the credit agreement, and take all legal measures to prevent Siemens from unilaterally foreclosing on company assets."
Given the pendency of these matters, the company has determined that it will not host an earnings call when it releases its fourth quarter and year-end earnings at the end of next week.
About HearUSA
HearUSA, Inc. (
