June 23, 2009 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
February 26, 2009 - The court preliminarily approved the settlement.

January 16, 2009 - Parties filed stipulation of settlement.

August 25, 2008 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased Candela Corporation (NASDAQ: CLZR) common shares between November 1, 2005 and August 21, 2006. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 1, 2005 and August 21, 2006.

July 10, 2008 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

June 2, 2008 - A lead plaintiff motion was filed.

April 2, 2008 - An investor in shares of Candela Corporation (NASDAQ: CLZR now trading on the NASDAQ sheets as ELOS) filed a lawsuit in the U.S. District Court for the District of Massachusetts against Candela Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 1, 2006 and August 21, 2006.

According to the complaint the plaintiff charges Candela Corporation and certain of its officers and directors with violations of the Securities Exchange Act of 1934 (the “Exchange Act”). The complaint alleges that between February 1, 2006 and August 21, 2006 defendants issued materially false and misleading statements regarding Candela Corporation’s business and financial results. According to the complaint, the true facts, which were known by defendants but concealed from the investing public, were as follows: (i) that the Candela Corporation was quickly losing market share to competitors as it lacked a competitive multi-configuration/multi-application device; and (ii) that Candela Corporation had received communications from Palomar Medical Technologies, Inc. (“Palomar”) regarding the alleged infringement of Palomar’s patents by Candela Corporation, which was material information for investors as Palomar had made it a pattern and practice of suing the cosmetic laser industry for infringement and had successfully forced numerous competitors to license its technology and, at a minimum, the prospect of patent litigation presented increased costs to Candela Corporation; and (iii) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Candela Corporation, its earnings and prospects.

On August 21, 2006, after the close of the market, Candela Corporation issued a press release announcing its financial results for its fourth fiscal quarter and fiscal year 2006. For the fourth quarter, Candela Corporation (NASDAQ: CLZR) reported net income of $0.10 per share – far below analysts’ earnings expectations of $0.23 per share. In response to the announcement, the price of Candela Corporation stock (NASDAQ: CLZR) declined from $14.49 per share to $10.33 per share on extremely heavy trading volume.

Candela Corporation engages in the development and commercialization of laser and light-based systems that allow physicians and personal care practitioners to treat various cosmetic and medical conditions worldwide. On September 9, 2009 Syneron Medical Ltd (NASDAQ: ELOS) and Candela Corporation (NASDAQ: CLZR) entered into a definitive agreement to combine the companies in an all stock transaction.