Delcath advises stockholders to defer action over Laddcap news

By Elaine Rigoli

Tampa, Fla., July 28 - Delcath Systems, Inc. has advised its stockholders to defer taking any action in response to Laddcap Value Partners' Schedule 13D/A filing that it intends to begin a consent solicitation of the company's stockholders to remove all members of Delcath's board of directors.

The record date in connection with Laddcap's consent solicitation is July 27. Only stockholders of record as of the close of business on that date will be entitled to execute, withhold or revoke consents.

"We are surprised that, three weeks after Laddcap entered into an agreement with the company to withdraw its request for a special meeting and dismiss the litigation against the company in Delaware, Laddcap has now reversed course. This is Laddcap's third attempt to seek to remove the Delcath board in the last three months," Samuel Herschkowitz, Delcath chairman of the board, said in a statement.

Delcath, located in Stamford, Conn., develops isolated perfusion technology for organ or region-specific delivery of therapeutic agents.

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