Datascope CEO fires back at Ramius, calls shareholder's claims 'spurious'

By Lisa Kerner

Charlotte, N.C., Nov. 8 - Ramius Capital "distorted" findings of Datascope Corp.'s audit committee investigation in an attempt to have its nominees elected to the company's board of directors, according to audit committee chairman James J. Loughlin.

Loughlin was responding to the filing of definitive proxy materials by Starboard Value and Opportunity Master Fund Ltd., an affiliate of RCG Starboard Advisors, LLC and Ramius Capital Group, LLC.

Ramius is seeking the nomination of David Dantzker and William J. Fox for election to Datascope's board at its annual meeting on Dec. 20.

As previously reported, Ramius believes Datascope needs a change in light of "alleged ethical violations, related internal ethics investigations, and the recent departure of several senior executives."

"The audit committee conducted a thorough investigation selecting its own independent counsel and forensic accountants neither of whom had any material prior relationship with the company," Loughlin said in a company news release.

"The audit committee concluded there was no evidence to support the allegations or evidence of wrongdoing on the part of the chairman, members of his family, or the senior executive against whom anonymous allegations were made."

Datascope chairman and chief executive officer Larry Saper added, "We see Ramius as nothing more than a short-sighted hedge fund that did not own any stock in Datascope until three months ago."

Saper referred to Ramius' claims as "spurious and unfounded."

Datascope is a Montvale, N.J., medical device company.

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