LivaNova PLC (NASDAQ:LIVN), a market-leading medical technology and innovation company, commented on the decision delivered today by the Court of Appeal of Milan (CoA) for LivaNova to pay damages in the amount of €453 million (approximately U.S. $519 million) as a result of a civil action where the CoA declared LivaNova (formed through a merger with Sorin) jointly liable with SNIA (a former parent company of Sorin) for environmental liabilities incurred by SNIA's other subsidiaries. LivaNova strongly disagrees with the decision and will vigorously pursue all available remedies, including an appeal to the Italian Supreme Court. LivaNova filed an appeal over two years ago with the Italian Supreme Court regarding the CoA's previous decision on joint liability, though the damages decision may not be stayed pending resolution of the appeal on joint liability by the Italian Supreme Court.
About LivaNova
LivaNova PLC is a global medical technology and innovation company built on nearly five decades of experience and a relentless commitment to provide hope for patients and their families through innovative medical technologies, delivering life-changing improvements for both the Head and Heart. Headquartered in London, LivaNova employs approximately 3,000 employees and has a presence in more than 100 countries for the benefit of patients, healthcare professionals and healthcare systems worldwide. For more information, please visit www.livanova.com.
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This news release contains "forward-looking statements" concerning our goals, beliefs, expectations, strategies, objectives, plans and underlying assumptions and other statements that are not necessarily based on historical facts. These statements include, but are not limited to, statements regarding legal proceedings, court judgments and actions in response to such litigation. Actual results may differ materially from those indicated in our forward-looking statements as a result of various factors, including those factors set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2020, as supplemented by any risk factors contained in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
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Contacts:
LivaNova Investor Relations and Media Contacts
+1 281-895-2382
Lindsey Little
Senior Director, Investor Relations
InvestorRelations@livanova.com
Deanna Wilke
VP, Corporate Communications
Corporate.Communications@livanova.com
