Biomet pays $600,000 in lawsuit settlement

June 1, 2007
Biomet Inc. has agreed to pay $600,000 in legal fees and make additional information available to shareholders in order to settle class-action lawsuit opposing its pending sale to a group of private equity firms, the Warsaw prosthetics maker said in a Securities and Exchange Commission filing yesterday.

The settlement isn't expected to affect the $10.9 billion purchase price by LVB Acquisition LLC, Goldman Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group, Biomet said. Shareholders are scheduled to vote June 8.
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