Leading Proxy Advisory Firm RiskMetrics Recommends Shareholders Support LCA-Vision Board of Directors and Reject All Proposals b
06 March 2009 - 9:54AM
PR Newswire (US)
Urges LCA-Vision Stockholders to Vote the GOLD Card CINCINNATI,
March 5 /PRNewswire-FirstCall/ -- LCA-Vision Inc. (NASDAQ: LCAV)
announces that RiskMetrics Group's ISS Governance Services has
recommended that LCA-Vision stockholders vote to retain the
Company's current Board of Directors and reject all proposals,
including the removal of the current Directors and election of
replacement Directors, in the Joffe Group's consent solicitation.
After in-person meetings with LCA-Vision Board and management
representatives as well as with the dissident group, and conducting
a thorough analysis of their proposals and supporting statements,
RiskMetrics recommends that LCA-Vision stockholders vote in support
of the Board and management on all proposals. RiskMetrics Group is
a leading proxy advisory firm, and its analyses and recommendations
are relied upon by many of the world's leading institutional
investors. "In evaluating the questions of whether change in
management at LCA-Vision is warranted and whether stockholders
might be better served by the dissidents' proposals, RiskMetrics
responded with a clear and convincing 'no' to both," said Steven
Straus, LCA-Vision chief executive officer. "Current management and
the Board of Directors are working diligently to build stockholder
value. We have undertaken a multi-initiative plan that encompasses
all aspects of our business and are delighted that RiskMetrics
recognizes our actions and accomplishments. We urge our
stockholders to follow the recommendations of RiskMetrics and last
week's recommendations by Glass Lewis in voting for our current
Board and in support of the current management team." In its report
dated March 4, 2009, RiskMetrics states, among other things: --
Under the leadership of CEO Steve Straus, LCA's current management
has responded to challenging economic conditions with a strategy
"meant to position LCA to weather a sustained period of declining
procedure volume." -- RiskMetrics also recognizes LCA's performance
improvements in recent quarters, including a gain in market share
during the fourth quarter of 2008. -- Regarding Stephen Joffe, the
report states, "...we have governance concerns that preclude us
from recommending support for him," and added, "We note that none
of the other dissident [Board of Director] nominees have relevant
company or industry specific experience." Due to the nature of the
Consent process, your voting instruction is extremely important and
time sensitive. LCA-Vision urges all stockholders to vote their
GOLD cards to REVOKE CONSENT on all three proposals. Please discard
any proxy card that you receive from the Joffe Group. If you have
already voted to consent and wish to change your vote, you have
every right to revoke your consent and vote the GOLD proxy. Only
the latest dated card counts. LCA-Vision filed its Definitive
Consent Revocation Statement ("Consent Revocation Statement") with
the Securities and Exchange Commission on Monday, February 9, 2009,
and copies of the Consent Revocation Statement with a GOLD Consent
Revocation Card were mailed to stockholders beginning February 10,
2009. The Consent Revocation Statement can be obtained immediately
from the SEC's website at the following link:
http://tinyurl.com/ce63la or from the Investor Relations section of
the Company's website at http://www.lasikplus.com/ and
http://www.lca-vision.com/. Copies of the Consent Revocation
Statement and consent revocation card may also be obtained from
Georgeson Inc. Additional Information: Georgeson Inc. has been
retained by LCA-Vision as consent revocation solicitation agent.
Stockholders with questions are encouraged to call Georgeson
toll-free 1-800-457-0109. Copies of the Company's Consent
Revocation Statement, and any other documents filed by LCA-Vision
with the SEC in connection with the consent solicitation can be
obtained free of charge from the SEC's website at
http://www.sec.gov/, from the Company's website at
http://www.lasikplus.com/ and http://www.lca-vision.com/, or from
Georgeson. About LCA-Vision Inc./LasikPlus(R) LCA-Vision Inc., a
leading provider of laser vision correction services under the
LasikPlus(R) brand, operates 75 LasikPlus(R) fixed-site laser
vision correction centers in 32 states and 57 markets in the United
States and a joint venture in Canada. Additional company
information is available at http://www.lca-vision.com/ and
http://www.lasikplus.com/. Earning Trust Every Moment. Transforming
Lives Every Day. For Additional Information Company Contact:
Investor Relations Contact: Barb Kise Jody Cain LCA-Vision Inc.
Lippert/Heilshorn & Associates 513-792-9292 310-691-7100
DATASOURCE: LCA-Vision Inc. CONTACT: Barb Kise of LCA-Vision Inc.,
+1-513-792-9292; or Investor Relations Contact: Jody Cain of
Lippert/Heilshorn & Associates, +1-310-691-7100 Web Site:
http://idea.sec.gov/Archives/edgar/data/1003130/000114420409006021/v139094_defc14a.htm
http://www.lasikplus.com/ http://www.lca-vision.com/
Copyright