December 12 2007
Columbia, MD: (Dec-10-07) A securities class action lawsuit was brought against Martek Biosciences Corporation, alleging that the company violated several sections of the Securities Exchange Act of 1934. Martek Biosciences Corporation is a leader in the innovation and development of DHA omega-3 products that promote health and wellness through every stage of life. The lawsuit, filed in the United States District Court for the District of Maryland, reached a settlement, which resulted in the dismissal of the claims against Martek and all other defendants. As part of the settlement agreement, the company agreed to make a cash payment to the settlement fund of $6 million. Sources stated that the amount will be paid by the company's insurance carrier.
[CNN: MARTEK SECURITIES SETTLEMENT]
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