Medical laser manufacturer Biolitec Inc. has filed for chapter 11 protection as it continues to appeal a $23.2 million judgment awarded to a distributor of its products, Dow Jones DBR Small Cap reported today.
AngioDynamics Inc . in November was awarded a "final partial judgment" by the U.S. District Court against Biolitec. AngioDynamics settled the lawsuits for $7 million and $6.75 million each, according to court documents, and sued Biolitec for breach of contract.
