April 25, 2014

Payments Sent to Avacor Class Members

On April 25, 2014, payments were mailed to class members who participated in the Avacor class action settlement. Checks in the amount of $95 were mailed to each class member as part of the initial distribution of settlement proceeds. A second distribution in the amount of $95 to each class member will be made at a later date.

Scott A. Bursor filed the Avacor lawsuit in the Alameda County Superior Court in 2003 on behalf of a class of California purchasers of the Avacor hair regrowth system. Mr. Bursor stated, “My partner Tim Fisher and I chased this company through more than a decade of litigation, including two bankruptcies, and two jury trials, where we won verdicts of $37 million and $50 million. So this is a very significant case for our firm. We are both gratified to see the class members we represent are finally being paid.”

Under a post-trial settlement approved by Judge Robert B. Freedman in September, 2010, class members will receive $190 each. The balance of the claims will be paid when sufficient funds are available from the continuing liquidation of defendants’ assets.