Navigation Links
Martek Announces Settlement of Class Action Lawsuit
Date:12/10/2007

COLUMBIA, Md., Dec. 10 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation announced today that it has entered into a tentative settlement of all claims in the securities class action litigation filed in the United 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.

Martek Biosciences Corporation (Nasdaq: MATK) is a leader in the innovation and development of DHA omega-3 products that promote health and wellness through every stage of life. The company produces life'sDHA(TM), a sustainable and vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, beverages, infant formula, and supplements. The company also produces life'sARA(TM)(arachidonic acid), an omega-6 fatty acid, from a sustainable, vegetarian source, for use in infant formula. For more information on Martek Biosciences Corporation, visit http://www.martek.com.

Sections of this release contain forward-looking statements. These statements are based upon numerous assumptions which Martek cannot control and involve risks and uncertainties that could cause actual results to differ. These statements should be understood in light of the risk factors set forth in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's Form 10-K for the fiscal year ended October 31, 2006 and other filed reports on Form 10-K, Form 10-K/A, Form 10-Q and Form 8-K.

Contact:

Cassie France-Kelly

Public Relations

(443) 542-2116

media@martek.com

Kyle Stults

Investor Relations

(410) 740-0081

investors@martek.com


'/>"/>
SOURCE Martek Biosciences Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Study Demonstrates Marteks Algal DHA Oil Improves Blood Triglyceride Lipid Levels
2. Martek Announces Third Quarter 2007 Financial Results
3. Martek Announces Addition of lifesDHA(TM) to Entire Bellybar(TM) Line of Nutrition Bars
4. Martek Signs Multi-Year Infant Formula License and Supply Agreement with Alter Farmacia
5. Marteks lifesDHA(TM) Featured in New Beech-Nut(R) DHA Plus Baby Food and Cereals
6. Martek Wins German DHA Patent Infringement Actions Against Lonza and One of Nutrinovas Customers in Suits Relating to DHA Product Marketed for Use in Functional Foods and Dietary Supplements
7. Martek Signs Exclusive Worldwide Distributorship Agreement with Novus International
8. Marteks lifesDHA(TM) Featured in Dalco Foods Wellness Line Meat Products
9. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
10. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
11. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/27/2017)... ... 2017 , ... Anahata Ananda of Shamangelic Healing, Sedona ... announce her “Spring Rejuvenation in Sedona” personally tailored retreats. For those wanting an ... soul an excellent opportunity to come out of hibernation and do some inner ...
(Date:2/27/2017)... ... February 27, 2017 , ... This ... diffraction analysis as a tool to characterize particle size distributions in the field ... improved results and novel scientific findings. It describes methods of optimized and standardized ...
(Date:2/27/2017)... ... 27, 2017 , ... Silicon Valley Hair Institute, a professional ... informational post on robotic hair transplantation. San Francisco residents may be confused over ... Unit Transplantation (FUT) can sound similar. Either treatment can be used to provide ...
(Date:2/26/2017)... ... February 26, 2017 , ... This is an extension of ... to be ISO/IEC 17025:2005 INAB accredited for Der p 1 (house dust mite ... globally recognised standard that sets out requirements for the technical competence of testing ...
(Date:2/26/2017)... ... ... ODH, Inc.™ announced today it will exhibit and speak at the ... in Arlington, VA. ODH’s director of medical strategy, Candace Saldarini, M.D., will present on ... health management. , ODH will also have an exhibit booth where attendees may speak ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... Mass. , Feb. 24, 2017  Today, ... US dental labs have a new path to ... using the Biodenta implant library integrated into exocad ... must implement FDA compliant Good Manufacturing Processes (GMP,s) ... manufacturer with Biodenta, and complete an audit process. Then, ...
(Date:2/24/2017)... Feb 24, 2017 Research and Markets has announced ... 2016" report to their offering. ... The latest research Hemophilia Drugs Price Analysis and Strategies - ... The research answers the following questions: ... How are they positioned in the Global Hemophilia market? ...
(Date:2/24/2017)... 24, 2017 Juan Monteverde , founder ... , a boutique securities firm headquartered at the Empire ... , announces that a class action lawsuit has been ...  against Inotek Pharmaceuticals Corporation (NASDAQ:  ITEK)("Inotek" or the ... July 23, 2015 and December 30, 2016, inclusive (the ...
Breaking Medicine Technology: