Navigation Links
Immucor Settles SEC Investigation
Date:9/28/2007

Court Approves Class Action Settlement

NORCROSS, Ga., Sept. 28 /PRNewswire-FirstCall/ -- Immucor, Inc. (Nasdaq: BLUD), the global leader in providing automated instrument-reagent systems to the blood transfusion industry, announced today that the Securities and Exchange Commission (SEC) has agreed to a complete settlement of its previously-disclosed investigation into certain activities involving the company's Italian subsidiary.

Under the settlement, without admitting or denying any wrongdoing, the company consented to the entry of an order that it cease and desist from future violations of Sections 13(b)(2)(A), 13(b)(2)(B) and 30A of the Securities Exchange Act of 1934. The SEC did not impose any monetary penalty against the company or require the company to take any further action.

The SEC also approved a separate settlement with Dr. Gioacchino De Chirico, the company's President and CEO, related to the same investigation. Without admitting or denying any wrongdoing, Dr. De Chirico agreed to pay a $30,000 civil penalty and consented to the entry of an order that he cease and desist from causing future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934.

In an unrelated development, on September 26, 2007, the United States District Court for the Northern District of Georgia granted final approval of the settlement of the previously-disclosed class action lawsuit entitled In re Immucor, Inc. Securities Litigation, filed in 2005. Under the settlement, which was previously reported, the company's insurance carrier agreed to pay $2.5 million to the plaintiff class in consideration of an unconditional release of all claims against the company and the individual defendants. The company's only costs were certain legal defense expenses, which have been expensed as incurred. The Court's approval concludes the company's involvement in this litigation and terminates the claims asserted in this litigation as to all class members.

Founded in 1982, Immucor manufactures and sells a complete line of reagents and systems used by hospitals, reference laboratories and donor centers to detect and identify certain properties of the cell and serum components of blood prior to transfusion. Immucor markets a complete family of automated instrumentation for all of its market segments. For more information on Immucor, please visit our website at http://www.immucor.com.


'/>"/>
SOURCE Immucor, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Cytochroma settles lawsuit with Genzyme
2. WARF settles patent dispute with IBM
3. Merge execs step down following investigation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/9/2017)... (PRWEB) , ... October 09, 2017 , ... At its ... Dr. Christopher Stubbs, a professor in Harvard University’s Departments of Physics and Astronomy, has ... was a member of the winning team for the 2015 Breakthrough Prize in Fundamental ...
(Date:10/9/2017)... ... October 09, 2017 , ... ... medical journal, Epilepsia, Brain Sentinel’s SPEAC® System which uses the surface electromyography ... generalized tonic-clonic seizures (GTCS) using surface electromyography (sEMG). The prospective multicenter phase ...
(Date:10/7/2017)... Seattle, WA (PRWEB) , ... ... ... the industry leader in Hi-C-based genomic technologies, launched its ProxiMeta™ Hi-C metagenome ... the ProxiMeta Hi-C kit and accompanying cloud-based bioinformatics software to perform Hi-C ...
(Date:10/6/2017)... ... October 06, 2017 , ... The ... and technology sector at their fourth annual Conference where founders, investors, innovative practitioners ... and the ELEVATE pitch competition showcasing early stage digital health and med tech ...
Breaking Biology Technology:
(Date:6/30/2017)... , June 30, 2017 Today, American ... and supplier of face and eye tracking software, ... Product provider program. "Artificial intelligence ... way to monitor a driver,s attentiveness levels while ... being able to detect fatigue and prevent potential ...
(Date:5/23/2017)...  Hunova, the first robotic gym for the rehabilitation and functional motor ... Genoa, Italy . The first 30 robots will be ... USA . The technology was developed and patented at the ... spin-off Movendo Technology thanks to a 10 million euro investment from entrepreneur ... ...
(Date:5/6/2017)... RAM Group , Singaporean based ... in biometric authentication based on a novel  ... to perform biometric authentication. These new sensors are based on ... Ram Group and its partners. This sensor will have ... and security. Ram Group is a next generation ...
Breaking Biology News(10 mins):