Atlanta, GA: (Sep-28-07) The US Securities and Exchange Commission (SEC) filed charges against Immucor Inc. president and CEO Gioacchino De Chirico alleging that he was responsible for improper payments Immucor's Italian subsidiary made to an Italian physician. In a settlement reached, De Chirico will pay a $30,000 settlement to the Securities and Exchange Commission, resolving the allegations. The Norcross, GA-based Company stated that in entering into the settlement, it did not admit or deny any wrongdoing. The SEC did not impose any penalty against the company.
In an unrelated case, the US District Court for the Northern District of Georgia gave final approval for a $2.5 million settlement of a class action lawsuit filed against the company in 2005. The company's insurance carrier agreed to pay the settlement to the plaintiff class in exchange for the unconditional release of all claims against the company and the individual defendants. The court's approval concludes the company's involvement in the case and ends all pending litigation. [ATLANTA BUSINESS JOURNAL: IMMUCOR PAYMENTS]