MINNEAPOLIS, May 20, 2016 /PRNewswire/ -- Cogentix Medical, Inc. (NASDAQ: CGNT), a global medical device company with innovative and proprietary products serving urology and airway management markets, updated and revised the announcement it issued earlier today that its Board of Directors authorized the 2016 Annual Meeting of Stockholders previously scheduled for May 20, 2016 to be held on Tuesday, May 24, 2016 at 12:00 P.M. Central Daylight Time in light of the Court of Chancery of the State of Delaware granting a Preliminary Injunction Motion brought by a member of its Board of Directors, to disclose that, in keeping with the intent of its Board of Directors to preserve the record date for the 2016 Annual Meeting, its President adjourned the 2016 Annual Meeting of Stockholders to Tuesday May 24, 2016 in accordance with Section 1.7 of its bylaws. The Court ruled that the Cogentix Board of Directors may not take steps to implement the previously disclosed Board Reduction Plan to the extent it would reduce the number of Board seats to five or the number of Class I seats to one. The adjourned Annual Meeting date will be Tuesday, May 24, 2016 at 12:00 P.M. Central Daylight Time. The meeting location will be announced on Monday, May 23, 2016.
About Cogentix Medical
Cogentix Medical, Inc., headquartered in Minnetonka, Minnesota, with additional operations in New York, Massachusetts, The Netherlands and the United Kingdom, is a global medical device company. We design, develop, manufacture and market products for flexible endoscopy with our unique product lines featuring a streamlined visualization system and proprietary sterile disposable microbial barrier, known as EndoSheath technology, providing users with efficient and cost effective endoscope turnover while enhancing patient safety. We also commercialize the Urgent® PC Neuromodulation System, an FDA-cleared device that delivers percutaneous tibial nerve stimulation (PTNS) for the office-based treatment of overactive bladder (OAB). OAB is a chronic condition that affects approximately 42 million U.S. adults. The symptoms include urinary urgency, frequency and urge incontinence. We also offer Macroplastique®, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on Cogentix Medical and our products, please visit us at www.cogentixmedical.com. 'CGNT-G'
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SOURCE Cogentix Medical, Inc.