PolyMedica Corp.

Hartford, CT: (May-29-07) A class action lawsuit was filed against PolyMedica Corp., alleging that the company was guilty of violating the US Securities and Exchange Commission laws. The suit claimed that PolyMedica violated section 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 there under. The class was comprised of persons who purchased or otherwise acquired the common stock of PolyMedica Corp. during the period between October 26, 1998, and December 31, 2000. In a settlement reached, the company agreed to pay $5.5 million to settle the class action charges against it. The settlement has been submitted for approval to the United States District Court for the District of Massachusetts. [PRIME NEWSWIRE: POLYMEDIA SETTLEMENT]