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:7/21/2017)... Dalton, GA (PRWEB) , ... July 21, 2017 ... ... provides asset protection and financial consultation services to families and business owners in ... charity drive to raise support for children overcoming sexual assault and physical abuse. ...
(Date:7/21/2017)... Minnesota (PRWEB) , ... July 21, 2017 , ... ... BWBR recently were selected to renovate and improve the Ramsey County Medical Examiners ... adjacent to Regions Hospital, the $2.5 million project is scheduled to start in ...
(Date:7/21/2017)... ... July 21, 2017 , ... The Margarian Law Firm has filed a ... ginger ale for allegedly containing no ginger. Dr. Pepper produces the “Canada Dry” brand ... Gegham Margaryan alleges Canada Dry Ginger Ale claims on its bottle that it is ...
(Date:7/21/2017)... ... July 21, 2017 , ... ... Tears® EyeMist®, the signature product of her research center at Bio-Logic Aqua Research® ... largest population and the greatest number of sufferers of blindness. “We think that ...
(Date:7/20/2017)... ... July 20, 2017 , ... TransPixel Volume 2 is a set of ... FCPX timeline. This effect isolates horizontal and vertical lines of pixels and sorts their ... rotating or flipping animation and can be changed using a drop-down menu. Create amazing ...
Breaking Medicine News(10 mins):
(Date:7/13/2017)... -- RK Logistics Group, Inc. was awarded California ... Fremont, CA headquarters facility where it provides ... San Jose for hi-tech, pharmaceutical and biomedical ... with its Fremont Innovation District, is excited to strategically partner ... to the hundreds of biotech, pharma and biomed companies throughout ...
(Date:7/11/2017)... Research Corp., also known as ,The Epigenetics Company, announced today the release ... manner using the myDNAge ™ test. Based on Horvath,s Clock, so ... and biostatistics at the David Geffen School of Medicine at UCLA ... DNAge ™ technology is used to analyze DNA methylation patterns of ... ...
(Date:7/11/2017)... Fla. , July 11, 2017  Dr. Echenberg, founder of Echenberg ... therapy program to patients who suffer from painful intercourse and other painful ... and vaginal atrophy due to menopause. ... VuVatech LLC ... , created by Sarasota, Florida -based start-up company, VuVatech ...
Breaking Medicine Technology: