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:7/26/2017)... Grand Bahama (PRWEB) , ... July 26, 2017 , ... ... Regenerative Medicine , which is licensed by the Bahamas’ National Stem Cell Ethics Committee ... (MBBS) from the University of the West Indies. He went on to complete residency ...
(Date:7/26/2017)... - Caprion Biosciences Inc., a world leading specialty CRO announced the ... of early stage (latent) Mycobacterium tuberculosis (Mtb) infection using state-of-the-art ... platform. ... Caprion Biosciences Inc. (CNW Group/Caprion Biosciences) ... The new data, recently published in ...
(Date:7/26/2017)... ... July 25, 2017 , ... The leading Regenerative Veterinary Medicine ... cell therapy has been used on more than 13,000 animals. VetStem was ... fatal injuries to tendons and ligaments. , In 2003 VetStem signed a worldwide ...
(Date:7/26/2017)... ... July 26, 2017 , ... Spectral ... we face every day. This unique capability combines high resolution imaging with ... manufacturers to deliver unprecedented datasets for chemical analysis, quality control, and decision-making. , ...
Breaking Biology Technology:
(Date:6/23/2017)... N.Y. , June 23, 2017  IBM (NYSE: ... dairy research, today announced a new collaboration using next-generation ... chances that the global milk supply is impacted by ... Cornell University has become the newest academic institution to ... a food safety initiative that includes IBM Research, Mars, ...
(Date:5/16/2017)... 2017   Bridge Patient Portal , an ... MD EMR Systems , an electronic medical record ... have established a partnership to build an interface ... GE Centricity™ products, including Centricity Practice Solution (CPS), ... These new integrations will allow healthcare delivery networks ...
(Date:4/18/2017)... , April 18, 2017  Socionext Inc., a global expert in ... media edge server, the M820, which features the company,s hybrid codec ... provided by Tera Probe, Inc., will be showcased during the upcoming ... NAB show at the Las Vegas Convention ... Click ...
Breaking Biology News(10 mins):