DOCSLIB.ORG

In Re: VISX, Inc. Securities Litigation 00-CV-00649-Consolidated

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
In Re: VISX, Inc. Securities Litigation 00-CV-00649-Consolidated 1 MILBERG WEISS BERSHAD HYNES & LERACH LLP 2 WILLIAM S. LERACH (68581) 600 West Broadway, Suite 1800 3 San Diego, CA 92101 Telephone: 619/231-1058 AU - ? ^UUQ 4 - and - rte.1 ,... PATRICK J. COUGHLIN (111070) 5 RANDI D. BANDMAN (145212) LESLEY E. WEAVER (191305) 6 100 Pine Street, Suite 2600 San Francisco, CA 94111 7 Telephone : 415/288-4545 8 KAPLAN, KILSHEIMER & FOX LLP ROBERT N. KAPLAN 9 FREDERIC S. FOX LAURENCE D. KING 10 805 Third Avenue, 22nd Floor New York, NY 10022 11 Telephone: 212/687-1980 12 Co-Lead Counsel for Plaintiffs 13 UNITED STATES DISTRICT COURT 14 NORTHERN DISTRICT OF CALIFORNIA 15 16 ) Master File No. C-00-0649-CRB In re VISX, INC. SECURITIES LITIGATION ) 17 CLASS ACTION 18 This Document Relates To: ) CONSOLIDATED AMENDED COMPLAINT FOR VIOLATION OF THE,, 19 ALL ACTIONS. ) FEDERAL SECURITIES LAWS 20 Plaintiffs Demand a Trial by Jury 21 22 23 24 25 26 27 28 1 TABLE OF CONTENTS 2 Page 3 4 INTRODUCTION AND OVERVIEW . 1 5 SCIENTER AND SCHEME ALLEGATIONS . 10 6 BACKGROUND TO CLASS PERIOD . ... 12 7 VISX's Core Patents Are Not Enforceable . 17 8 The Trokel-Srinivasan Collaboration . 19 9 VISX and Trokel Fail to Identify Srinivasan as a Co-Inventor . 24 10 The ITC Ruling . ... 25 11 Competition from Canada . 27 12 FALSE AND MISLEADING STATEMENTS DURING THE CLASS PERIOD . 30 13 CLASS ACTION ALLEGATIONS . 49 14 FIRST CLAIM FOR RELIEF . 49 15 For Violation of Section 10(b) of the 1934 Act 16 and Rule IOb-S Against All Defendants . 49 17 SECOND CLAIM FOR RELIEF . 52 18 For Violation of Section 20(a) ofthe 1934 Act Against Defendant VISX and the Individual Defendants . 52 19 THIRD CLAIM FOR RELIEF 20 For Violation of Section 20A of the 1934 Act 21 Against the Individual Defendants . 52 22 PRAYER FOR RELIEF . .. 54 23 JURY DEMAND .............................. ......... 54 24 25 26 27 28 CONSOLIDATED AMENDED COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAWS - C-00-0649-CRB -i- 1 INTRODUCTION AND OVERVIEW 2 1. This is an action on behalfofpersons who purchased or acquired VISX, Inc. ("VISX" 3 or the "Company") stock between 3/1/99-2/22/00 (the "Class Period"). VISX develops proprietary 4 technologies and systems for laser vision correction ("LVC"). Defendants' false and misleading 5 statements about the steady and increasing revenues that the installed base of VISX's excimer laser 6 systems would provide to VISX, the strong procedure and equipment royalties VISX was earning, 7 the limited impact of competition, which would allow VISX to maintain its $250 per procedure 8 licensing fee in the U. S., and would support consistent revenue growth, and VISX's continued market 9 share domination, which would result in 2000 earnings per share ("EPS") of $1.70-1.80, artificially 10 inflated the price ofVISX stock to a Class Period high of $103-7/8 from just $30-1/4 per share at the 11 outset of the Class Period.' This upsurge in VISX's stock enabled VISX insiders to sell 1.4 million 12 shares of their VISX stock for $97 million in proceeds. 13 2. One way that VISX was able to charge its lucrative $250 per procedure fee was to 14 intimidate competitors who sought to enter the U.S. market. This was accomplished through the 15 threat of legal actions in which VISX would claim that these competitors were infringing on its 16 patents. However, the reality was that VISX's patents were unenforceable and defendants knew it. 17 VISX had notice ofthis prior to filing a complaint on 1/22/99 (supplemented on 2/9/99) charging that 18 Nidek Co., Ltd. ("Nidek") was infringing on its core patent technology, but hoped that its ability to 19 conceal the true inventors ofits patent technology would enable VISX to continue to charge its $250 20 per procedure fee. Because VISX's business model was based on its fraudulent patent claims, its 21 statements to the market about the continued viability of its per procedure fee were materially false 22 and misleading. Ifthe true facts ofVISX's claims had been known to the market, shareholders would 23 not have paid inflated prices for VISX shares, ultimately losing millions as the insiders made tens of 24 millions. 25 3. VISXs house ofcards began to crumble on 12/10/99 when VISX received an adverse 26 ruling from the International Trade Commission ("ITC") that one of its core patents was 27 All share and per share amounts are adjusted to reflect VISX's two-for-one stock splits paid 28 in 1/99 and 5/99. CONSOLIDATED AMENDED COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAWS - C-00-0649-CRB - 1 - 1 unenforceable and that competitor Nidek had not infringed on VISX's patents, 'causing its stock,to 2 retreat to the $58-$60 range. This cast public doubt on VISX's competitive position and its ability 3 to maintain its prices. However, defendants continued to tell the market that VISX could maintain 4 its $250 per procedure fee. Then, on 1/19/00, VISX revealed a drop in 4thQ 99 revenues versus 5 3rdQ 99 and exposed the problems VISX was having growing its business. On these disclosures, 6 VISX's stock fell by 29% in one day to $32-1/4. However, it was not until 2/22/00 that defendants 7 admitted what they had known for some time, that VISX would have to reduce its per procedure fee 8 to $100 to remain competitive, severely impacting future revenues and profits. This announcement 9 caused its stock price to drop to as low as $16 on huge volume on 2/23/00. 10 11 VISX Inc. January 4, 1999 - February 23, 2000 12 Daily Share Prices 110 13 100 14 90 15 80 16 70 17 60 18 00 50 19 40 20 30 21 20 22 10 23 U11U41 03/U3199 04/29/99 06/25/99 08/23/99 10119/99 12115/99 02/11/00 02/02/99 03/31/99 05/27/99 07/26/99 09/21/99 11 /16/99 01/13/00 24 25 26 27 28 CONSOLIDATED AMENDED COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAws - C-00-0649-CRB 2- 1 1 4. The chart below shows the price of VISX stock while defendants were issuing the 2 false and misleading statements and that, when compared to an index of similar stocks, VISX's stock 3 was inflated and declined due to Company-specific events and information and not market or 4 industry forces: 5 V'SX 6 vs. S&P Midcap Medical Products and Supplies (1) 7 March 1999 - February 2000 400 400 8 350 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 350 9 300 - - - - - - - - - - - - - - 300 10 11 0 250 250 12 200 ----------------------- 200 13 150 ---------------------------- 150 SSP Grp. 14 100 100 15 50 50 16 0 0 M A M J J A S 0 N D J F 17 2000 18 19 JURISDICTION AND VENUE 20 5. The claims asserted herein arise under §§ 10(b), 20(a), and 20A of the Securities 21 Exchange Act of 1934 ("1934 Act"), 15 U.S.C. §§78j(b), 78t(a), and 78t- 1, and Rule lOb-5. 22 Jurisdiction is conferred by §27 of the 1934 Act, 15 U.S.C. §78aa. Venue is proper here pursuant 23 to §27 of the 1934 Act. Acts and transactions giving rise to the violations of law complained of 24 occurred here. 25 THE PARTIES 26 6. Lead plaintiff Esther Sefaradi purchased 18,000 shares of VISX common stock 27 during the Class Period and was damaged thereby. 28 CONSOLIDATED AMENDED COMPLAINT FOR VIOLATION OF THE FEDERAL sEcuRrrms LAws - C-00-0649-CRB -3- 1 7. Lead plaintiff John Stewart Morton purchased 90,000 shares ofVISX common stock 2 during the Class Period and was damaged thereby. 3 8. Lead plaintiff Richard Demmitt purchased 18,300 shares of VISX common stock 4 during the Class Period and was damaged thereby. 5 9. Lead plaintiff Herbert Johnson purchased 22,100 shares of VISX common stock 6 during the Class Period and was damaged thereby. 7 10. Defendant VISX maintains its headquarters at Santa Clara, CA. During the Class 8 Period, VISX's common stock traded in an efficient market on the NASDAQ National Market 9 System. 10 11. (a) Defendant Mark B. Logan ("Logan") was, during the Class Period, CEO and 11 Chairman of the Board of the Company. Logan sold 730,000 shares of his VISX stock during the 12 Class Period for prices as high as $102 per share, reaping proceeds of $51.8 million from his insider 13 trading activity. These sales were unusual in timing and amount, greatly exceeding the amount 14 Logan sold prior to the Class Period. 15 VISX INC. 16 Mark Logan - Insider Sales Monthly Dollar Volume 17 January 1, 1998 to January 19, 2000 $120 18 $12 19 $10 $100 20 21 $8 $80 0 22 E $8 $60 ; 23 0 C 24 $4 $40 25 $2 $20 26 27 So $0 J F M A M J J A S O N D J F M A M J J A S O N D 28 1998 1999 CONSOLIDATED AMENDED COMPLAINT FOR VIOLATION OF THE FEDERAL sECuRmEs LAws - C-00-0649-CRB -4- 1 (b) Defendant Elizabeth H. Davila ("Davila") was, during the Class Period, 2 President and COO ofthe Company. Davila sold 160,336 shares ofher VISX stock during the Class 3 Period for prices as high as $94.63 per share, reaping proceeds of $12.1 million from her insider 4 trading activity.
Load more

Recommended publications
  • History of Refractive Surgery
    History of Refractive Surgery Refractive surgery corrects common vision problems by reshaping the cornea, the eye’s outermost layer, to bend light rays to focus on the retina, reducing an individual’s dependence on eye glasses or contact lenses.1 LASIK, or laser-assisted in situ keratomileusis, is the most commonly performed refractive surgery to treat myopia, hyperopia and astigmatism.1 The first refractive surgeries were said to be the removal of cataracts – the clouding of the lens in the eye – in ancient Greece.2 1850s The first lensectomy is performed to remove the lens 1996 Clinical trials for LASIK begin and are approved by the of the eye to correct myopia.2 Food & Drug Administration (FDA).3 Late 19th 2 Abott Medical Optics receives FDA approval for the first Century The first surgery to correct astigmatism takes place. 2001 femtosecond laser, the IntraLase® FS Laser.3 The laser is used to create a circular, hinged flap in the cornea, which allows the surgeon access to the tissue affecting the eye’s 1978 Radial Keratotomy is introduced by Svyatoslov Fyodorov shape.1 in the U.S. The procedure involves making a number of incisions in the cornea to change its shape and 2002 The STAR S4 IR® Laser is introduced. The X generation is correct refractive errors, such as myopia, hyperopia used in LASIK procedures today.4 and astigmatism.2,3 1970s Samuel Blum, Rangaswamy Srinivasan and James J. Wynne 2003 The FDA approves the use of wavefront technology,3 invent the excimer laser at the IBM Thomas J. Watson which creates a 3-D map of the eye to measure 1980s Research Center in Yorktown, New York.
    [Show full text]
  • LASIK Comes to Sankara Nethralaya
    November 1997-March 1998 Sankara Nethralaya Number 17 & 18 CHANGE AND CONTINUITY Dr. T.S. Surendran, Assistant Medical Director will soon become Medical Director, Medical Research Foundation, Dr. S. S. Badrinath who has been the Medical Director of the institution since its inception in 1978 will become the Chief Executive of the organization. After 19 years of single minded service to the organization, Dr.S.S.Badrinath, Founder and Medical Director of Medical Research Foundation will be retiring from his present post on 24 February, 1998. Dr.T.S,Surendran, his successor, has been with the institution since 1979 and has served as Assistant Medical Director since 1990. He has qualified with a graduate degree in hospital administration from BITS, Pilani (in association with CMC, Vellore and Tulane University, USA). Dr. S.S.Badrinath as Chief Executive will continue to be associated with all the activities of Sankara Nethralaya. Free from the chores of the day to day running of the hospital, he will be more involved in teaching and research areas besides continuing to take a deep interest in patient care and planning the future direction of the institution. Dr.S.S.Badrinath will be handing over the post of Medical Director to make way for the younger Dr.T.S.Surendran, Being actively involved in the administration of the hospital for the past 7 years, Dr.Surendran will bring to his new post a wealth of experience in hospital management. Change amidst continuity will foster the further growth and development of the institution into the 21st century. ISO 9002 for Sankara Nethralaya Finally we have it.
    [Show full text]
  • Excimer Laser Surgery: Laying the Foundation for Laser Refractive Surgery
    RC25286 (WAT1205-066) May 23, 2012 Physics IBM Research Report Excimer Laser Surgery: Laying the Foundation for Laser Refractive Surgery James J. Wynne IBM Research Division Thomas J. Watson Research Center P.O. Box 218 Yorktown Heights, NY 10598 USA Research Division Almaden - Austin - Beijing - Cambridge - Haifa - India - T. J. Watson - Tokyo - Zurich LIMITED DISTRIBUTION NOTICE: This report has been submitted for publication outside of IBM and will probably be copyrighted if accepted for publication. It has been issued as a Research Report for early dissemination of its contents. In view of the transfer of copyright to the outside publisher, its distribution outside of IBM prior to publication should be limited to peer communications and specific requests. After outside publication, requests should be filled only by reprints or legally obtained copies of the article (e.g. , payment of royalties). Copies may be requested from IBM T. J. Watson Research Center , P. O. Box 218, Yorktown Heights, NY 10598 USA (email: [email protected]). Some reports are available on the internet at http://domino.watson.ibm.com/library/CyberDig.nsf/home . Essay for Centennial History of The Optical Society of America 5/21/12 – JJ Wynne Excimer Laser Surgery – Laying the Foundation for Laser Refractive Surgery James J. Wynne, Ph. D. The discovery of excimer laser surgery On November 27, 1981, the day after Thanksgiving, Dr. Rangaswamy Srinivasan brought leftovers from his Thanksgiving dinner into the IBM Thomas J. Watson Research Center, where he irradiated turkey cartilage with ~10-nsec pulses of light from an argon fluoride (ArF) excimer laser.
    [Show full text]
  • LASIK – Laser Eye Surgery | LASIK Blog Page 1 of 4
    LASIK – Laser Eye Surgery | LASIK Blog Page 1 of 4 LASIK Blog Lasik Eye Surgery, LASEK, Epi-LASIK, Cost, Forums, Blog « Top reasons why lasik is costly! LASIK – Part 2 » LASIK – Laser Eye Surgery LASIK or Lasik (laser-assisted in situ keratomileusis) is a kind of refractive surgery with regard to fixing myopia, hyperopia, and astigmatism. LASIK is actually performed by ophthalmologists using a laser beam. LASIK is similar to additional surgical corrective procedures like photorefractive keratectomy, PRK, (also called ASA, Advanced Surface Ablation) though it provides advantages such as quicker patient restoration. Both LASIK and PRK represent advances more than radial keratotomy within the medical procedures associated with vision difficulties, and are therefore workable alternatives to wearing remedial eyeglasses or even contact lenses for a lot of sufferers. The LASIK technique was made possible through the Colombia-based Spanish ophthalmologist Jose Barraquer, who, around 1950 in his center in Bogotá, Colombia, developed the very first microkeratome, and created the actual method used to reduce thin flaps in the cornea as well as alter its form, inside a procedure he or she called keratomileusis. Barraquer also investigated the actual query of what amount of the cornea had to be remaining unaltered to supply stable long-term results. Later technical as well as procedural developments included Le (radial keratotomy), developed within Russian federation within the seventies through Svyatoslav Fyodorov, as well as PRK (photorefractive keratectomy), created within 1983 from Columbia University through Dr. Steven Trokel, who additionally released an article in the American Journal associated with Ophthalmology within 1983 setting out the possibility benefits of while using Excimer laser trademarked within 1973 through Mani Lal Bhaumik within refractive surgical procedures.
    [Show full text]
  • Excimer Lasers in Refractive Surgery
    Excimer Lasers in Refractive Surgery REVIEW Excimer Lasers in Refractive Surgery Ajla Pidro1, Alma Biscevic1,2, ABSTRACT Melisa Ahmedbegovic Pjano1, Introduction: In the field of ophthalmology, laser technology is used in many basic and clinical Ivana Mravicic2, Nita Bejdic1, disciplines and specialities. It has played an important role in promoting the development of oph- Maja Bohac2 thalmology. Aim: This article is designed to review the evolution of laser technology in refractive surgeries in ophthalmology, mainly focusing on the characteristics of the excimer laser applied in 1 Eye Polyclinic Svjetlost, Sarajevo, Bosnia corneal refractive surgery. Methods: This article was performed based on a literature review and and Herzegovina Internet search through scientific databases such as PubMed, Scopus, Web of Science and Google 2University Eye Hospital Svjetlost, School Scholar. Result: The literature on excimer laser technology addresses the technical and physical of Medicine University of Rijeka, Zagreb, aspects of excimer lasers including types, characteristics and commercially available lasers on the Croatia market. Conclusion: The conclusion on this forum aims to help understand the benefits of excimer laser use in ophthalmology, with focus on correction of refractive errors. Correspoding author: Alma Biscevic, dr. Mustafe Pintola 23, Sarajevo. Tel: +387 60 31 94 712. Keywords: Excimer laser, corneal refractive surgery, ablation profile, laser pulse. Fax: +387 33 762 771. E-mail: alma@svjetlost- sarajevo.ba. ORCID ID:http//www.orcid.org/ 1. INTRODUCTION tochemist with 21 US patents to his 0000-0002-6496-2853.. In the field of ophthalmology, name; and Wynne was a physicist, laser technology is used in many who was the manager of the group doi: 10.5455/aim.2019.27.278-283 basic and clinical disciplines and at IBM.
    [Show full text]
  • Bridge Linking Engineering and Society
    Spring 2013 PRECOLLEGE STEM EDUCATION The BRIDGE LINKING ENGINEERING AND SOCIETY On the Road to Reform: K–12 Science Education in the United States William H. Schmidt, Nathan A. Burroughs, and Leland S. Cogan American Science Education in Its Global and Historical Contexts Alexandra Killewald and Yu Xie Engineering Diversity: Fixing the Educational System to Promote Equity Lindsey E. Malcom-Piqueux and Shirley M. Malcom Promoting Access to Undergraduate STEM Education: The Legal and Policy Environment Liliana M. Garces and Lorelle L. Espinosa A Framework for K–12 Science Education: Looking Toward the Future of Science Education Heidi A. Schweingruber, Helen Quinn, Thomas E. Keller, and Greg Pearson The mission of the National Academy of Engineering is to advance the well-being of the nation by promoting a vibrant engineering profession and by marshalling the expertise and insights of eminent engineers to provide independent advice to the federal government on matters involving engineering and technology. The BRIDGE NATIONAL ACADEMY OF ENGINEERING Charles O. Holliday Jr., Chair Charles M. Vest, President Maxine L. Savitz, Vice President Thomas F. Budinger, Home Secretary Venkatesh Narayanamurti, Foreign Secretary C.D. (Dan) Mote Jr., Treasurer Editor in Chief: Ronald M. Latanision Managing Editor: Cameron H. Fletcher Production Assistant: Penelope Gibbs The Bridge (ISSN 0737-6278) is published quarterly by the National Aca- d emy of Engineering, 2101 Constitution Avenue NW, Washington, DC 20418. Periodicals postage paid at Washington, DC. Vol. 43, No. 1, Spring 2013 Postmaster: Send address changes to The Bridge, 2101 Constitution Avenue NW, Washington, DC 20418. Papers are presented in The Bridge on the basis of general interest and time- liness.
    [Show full text]
  • Eye112001.Pdf
    N E W S E R V I C E A T S A N K A R A N E T H R A L A Y A Madras South Round Table 39 OCULAR PROSTHETIC SERVICE The Ocular prosthetic Service, a new addition to the department of Ophthalmic Plastic Surgery was recently commissioned and inaugurated at Sankara Nethralaya on 23rd August 2001. In fact, it will be the first time in India, that an ocularist and a dedicated ocular prosthetic service is attached to an Oculoplastic Department in a Major Institution. patients who have had the misfortune of damage to one or both eyes through trauma, infections, tumors or other reasons, undergo surgery to remove the eye with the placement of orbital implants. These patients are subsequently fitted with an artificial eye (prosthesis) which has traditionally been done from a selection of readymade 'stock eyes'. With the development of the Ocular Prosthetic Service, we hope to 'customize' the fitting of an artifical eye to fit the socket comfortably. This will improve cosmesis, with better movement of the artifical eye thereby offering an overall improvement in appearance and psychologtical rehabilitation. Other specialized treatment modalities like customized pressure conformers/socket expanders, designing spectacle mounted prosthesis and even fcilities to couple the artificial eyes to underlying implants will be made available. The ocular Prosthetic Service has been made possible by generous contributions from Madras South Round Table 39 and 'Beach City Friends', Chennai. The service was inaugurated by Mr Jagannathan CMD of United India Insurance Ltd. Dr. Nirmala Subramaniam, the Head of the Orbit and oculoplastic Services received the keys to the department.
    [Show full text]
  • Development and Growth of the ISRS
    chapter 2 Development and Growth of the ISRK By Drs. Larry F. Rich, Casmir A. Swinger and Richard A.Villaseñor Incorporated in 1979, two years after lamellar surgery’s introduction in the United States, Dr. Troutman described the early ISRK as a “small group of Barraquer disciples,” who sought to study refractive keratoplasty procedures and advance education through an exchange of ideas and information. One of the Society’s key objectives was to increase the accessibility and ac- ceptance of refractive keratoplasty, often in the face of controversy and criticism from mainstream ophthalmologists, many of whom did not approve of operat- ing on, and potentially weakening, a structurally normal eye in order to correct Drs. Villaseñor and Troutman refractive error. Expansion of the ISRK The Society began to design educational programs for interested and qualified surgeons worldwide and, in 1980, conducted its first symposium on refractive Drs. Friedlander, Kaufman, McDonald surgery during the American Academy of Ophthalmology’s Annual Meeting in and Rowsey Chicago, a tradition that would continue until the Society joined forces with the Academy in 2003. Throughout the 1980s, the ISRK offered educational opportunities in the United States and at international venues including Argentina, Belgium, Brazil, Canada, Colombia, Denmark, Italy, Mexico, New Zealand and Switzerland. Society leaders, such as Swinger dedicated a great deal of time and effort to teaching and promoting the ISRK’s mission in Asian counties that included Hong Kong, India, Indonesia, Malaysia, Thailand and Vietnam, in addition to Greece, Israel, Mexico, Saudi Arabia and Turkey. Drs. Villaseñor, Friedlander and Werblin, In 1981, the ISRK held its first international meeting and, during an invited Ms.
    [Show full text]
  • The BRIDGE LINKING ENGINEERING and SOCIETY
    Summer 2013 UNDERGRADUATE ENGINEERING EDUCATION The BRIDGE LINKING ENGINEERING AND SOCIETY The Algebra Challenge Enrique J. Lavernia and Jean S. VanderGheynst Undergraduate Engineering Curriculum: The Ultimate Design Challenge Susan A. Ambrose Opportunities in Engineering Education: Pathways to Better-Prepared Students David B. Spencer and George Mehler Aligning Engineering Education and Experience to Meet the Needs of Industry and Society Rick Stephens Entrepreneurship: Its Role in Engineering Education Tom Byers, Tina Seelig, Sheri Sheppard, and Phil Weilerstein Opening Education Richard G. Baraniuk State-Level Measures to Close the STEM Skills Gap Dennis D. Berkey and Joanne Goldstein The NAE Grand Challenge Scholars Program Tom Katsouleas, Richard Miller, and Yannis Yortsos The mission of the National Academy of Engineering is to advance the well-being of the nation by promoting a vibrant engineering profession and by marshalling the expertise and insights of eminent engineers to provide independent advice to the federal government on matters involving engineering and technology. The BRIDGE NATIONAL ACADEMY OF ENGINEERING Charles O. Holliday Jr., Chair Charles M. Vest, President Maxine L. Savitz, Vice President Thomas F. Budinger, Home Secretary Venkatesh Narayanamurti, Foreign Secretary C.D. (Dan) Mote Jr., Treasurer Editor in Chief: Ronald M. Latanision Managing Editor: Cameron H. Fletcher Production Assistant: Penelope Gibbs The Bridge (ISSN 0737-6278) is published quarterly by the National Aca- d emy of Engineering, 2101 Constitution Avenue NW, Washington, DC 20418. Periodicals postage paid at Washington, DC. Vol. 43, No. 2, Summer 2013 Postmaster: Send address changes to The Bridge, 2101 Constitution Avenue NW, Washington, DC 20418. Papers are presented in The Bridge on the basis of general interest and time- liness.
    [Show full text]