| HOME >> BIOLOGY >> TECHNOLOGY |
States District Court for the District of Maryland alleging, among
other things, violations of Section 10(b) and 20(a) of the Securities
Exchange Act of 1934. The settlement will result in the dismissal of
the claims against Martek and all other defendants, subject to final
court approval. The proposed settlement of the class action will
include a cash payment to the settlement fund of $6 million, all of
which will be paid by the Company's insurer. The parties anticipate
filing in the near future a motion in the federal court asking for
approval of the proposed settlement, which is required before the
settlement becomes effective and final. No assurances can be given that
the settlement ultimately will be approved by the court.
-- Developments in Patent Infringement Litigation -- There have been
several recent developments in Martek's patent infringement suits in
the U.S. and Germany, a summary of which follow:
-- Martek Wins German DHA Patent Infringement Actions -- In October
2007, Martek received a favorable judgment in its patent
infringement suit against (i) Lonza Ltd., (ii) Celanese Ventures
GmbH and (iii) Nutrinova Nutrition Specialties & Food Ingredients
GmbH. In a separate suit against Lichtwer Pharma GmbH, one of
Nutrinova's customers, a similar judgment was announced. The first
suit involves Lonza's German sale and use of a fatty acid product
currently marketed under the brand name Lonza DHA for use in
functional foods and dietary supplements. The second suit involves
Lichtwer's German sale and use of a DHA-containing oil in a
supplement marketed under the brand name AMEU(R) Alge. The decisions
may be appealed by Lonza and Lichtwe
'/>"/>
| SOURCE Martek Biosciences Corporation Copyright©2007 PR Newswire. All rights reserved |