LCA-Vision founder begins process to replace company's board

By Lisa Kerner

Charlotte, N.C., Jan. 16 - The LCA-Vision Full Value Committee led by LCA-Vision Inc.'s founder and former chief executive officer, Dr. Stephen N. Joffe, filed a preliminary consent solicitation on Friday with the Securities and Exchange Commission.

Joffe's committee will solicit written consents from LCA-Vision stockholders in order to remove without cause each member of the company's board of directors and replace them with Joffe, Jason T. Mogel, Robert Probst, Edward J. VonderBrink and Robert H. Weisman, according to a schedule 13D/A filed with the SEC.

The committee also wants consents to repeal any provision of the company's bylaws that is in effect when the proposal becomes effective but was not included in the bylaws that became effective on Dec. 31 and filed with the SEC on Jan. 6.

Joffe, in the preliminary consent solicitation filing, said the committee believes that the current board and management team of LCA-Vision are underperforming and that improvement is needed in order to increase stockholder value.

Other members of the committee are LCA-Vision's former chief operating officer, Craig Joffe, and former executive vice president of finance, Alan Buckey.

LCA-Vision is a Cincinnati-based laser vision correction services company.

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