SALT LAKE CITY, Nov. 02, 2022 (GLOBE NEWSWIRE) —

TO: ALL OWNERS OF MERIT MEDICAL SYSTEMS, INC. (“MERIT” OR THE “COMPANY”) COMMON STOCK AS OF AUGUST 17, 2022 (“CURRENT MERIT SHAREHOLDERS”)

YOU ARE HEREBY NOTIFIED that the parties to the above stockholder derivatives lawsuit, Maute v. Lampropoulos et al., Civ. Case No. 2:21-cv-00346-DBP (the “Complaint”), have reached a settlement (the “Settlement”) to resolve the issues raised in the Complaint. The parties have entered into an agreement and a settlement agreement (the “Agreement”) setting out the terms of the Settlement. The settlement, if approved by the court, would settle the lawsuit fully, finally and forever on the terms set out in the agreement.

The lawsuit and settlement relate to allegations that certain current and former directors and officers of Merit (the “individual defendants”) breached their fiduciary duties by making a number of false and misleading statements regarding the integration of two acquisitions in Merit: (i) Cianna Medical, Inc. (“Cianna”) and (ii) the ClariVein assets of Vascular Insights, LLC. The complaint alleged that these false and misleading statements included claims that Merit successfully integrated Cianna and maintained its sales force and that the sale of ClariVein products fueled Merit’s growth.

Merit has implemented, or if Merit has not implemented, certain corporate governance reforms, as expressly set forth in Exhibit A of the Regulation.

Each defendant has denied all allegations of wrongdoing and continues to deny liability for the claims asserted in the lawsuit. Merit has also denied and continues to deny the claims in the lawsuit.

PLEASE FURTHER NOTE that pursuant to an order of the United States District Court for the District of Utah (the “Court”), a hearing (the “Settlement Hearing”) was held before the Honorable…