VANCOUVER, British Columbia, June 18, 2010 (GLOBE NEWSWIRE) -- Coastal Contacts Inc has successfully obtained an injunction against Mr. Daniel Muhlbach, one of Coastal's current directors. On May 18, the Company announced that it had filed a Statement of Claim against former Lensway Chief Executive Officer, Mr. Muhlbach. Particulars of the allegations include, among other things, breach of fiduciary duties and failure to act honestly and in good faith with a view to the best interests of Coastal. Mr. Justice Kelleher of the Supreme Court of British Columbia granted Coastal's application for an injunction today ordering that Mr. Muhlbach be enjoined from: (a) participating in any offers, bids, proposals or other attempts to acquire the issued and outstanding shares of Coastal or any of its subsidiaries; and (b) soliciting or recruiting the employees of Coastal or its subsidiaries. Mr. Roger Hardy, Coastal Contacts' President and CEO, commented: "With the injunction in place to protect Coastal's European operations, we continue to remain focused on enhancing our business and moving forward with our global strategic plan." About Coastal Contacts: Coastal Contacts Inc. is the world's leading direct-to-consumer vision products company which designs, produces and distributes a diversified offering of contact lenses and eyeglasses. The Company's unique combination of branded and private label products represent quality, value and above all, service. Coastal sells into more than 150 countries through proprietary web properties which reflect the culture and consumer preference of the target market. As new markets for eyeglasses and contact lenses evolve, the Company is positioned to become the vision product consumer's retailer of choice owing to its compelling value proposition combining value and service. A leader in many of its markets, Coastal is rapidly advancing toward its goal of becoming the "World's Optical Store". CONTACT: Clearly Contacts Ltd. Jennifer Harvey, Communications Manager 604-669-1555 ext. 322 jennyh@coastalcontacts.com
Coastal Contacts Obtains Injunction Against Current Director
| Source: Coastal Contacts Inc