JUPITER, Fla., Aug. 4 /PRNewswire-FirstCall/ -- Dyadic International, Inc. (Pink Sheets: DYAI) ("Dyadic") announced today that the United States District Court for the Southern District of Florida has approved the final resolution of the consolidated stockholder class action lawsuit, Miller v. Dyadic International, Inc. et al, and dismissed the lawsuit with prejudice.
The lawsuit initially filed in October 2007 asserted class action claims under federal securities laws based on allegations of misstatements and omissions by Dyadic and certain of its current and former officers and directors arising out of alleged improprieties at Dyadic's Asian subsidiaries. As reported in Dyadic's latest consolidated financial statements, Dyadic established a cash reserve in connection with the class action lawsuit which adequately covers the costs associated with resolving this matter.
Dyadic's President and Chief Executive Officer, Mark
SOURCE Dyadic International, Inc.
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