Cynosure Inc. entered an agreement to settle a complaint filed by ARcare Inc. alleging that the company violated the federal Telephone Consumer Protection Act.
Upon court approval, Cynosure would have to pay between $6.5 million and $16 million as compensation, depending on the number of class members that file a valid claim. ARcare had filed the complaint individually and on behalf of a putative nationwide class.
Cynosure recorded a $7.2 million charge in the fourth quarter of 2016 relating to the settlement agreement and expects the claims process to proceed in the first half of 2017.