Cutera Executive Chairman seeks to remove majority of directors

Cutera on Friday acknowledged receipt of, and issued the following response to, a demand by J. Daniel Plants to call a special meeting of stockholders. In a letter dated April 3, Plants, in his capacity as Executive Chairman of the company’s board, purported to call a special meeting of stockholders for the purpose of, among other items, removing the majority of Cutera’s directors without cause. On April 6, the board established a special committee of independent directors to review the special meeting demand and related matters. "Consistent with their fiduciary duties, the members of the Special Committee will carefully review the Special Meeting Demand. The Special Committee remains committed to acting in the best interests of the Company and its stockholders and will make a formal recommendation regarding the Special Meeting Demand in due course. Stockholders are not required to take any action at this time," the company said in a statement.