Immucor Settles for $2.5 Million

Law360, New York (May 21, 2007, 12:00 AM EDT) -- Immucor has agreed to shell out $2.5 million to settle a securities class-action suit brought by stockholders against the medical equipment manufacturer, accused of lying about its involvement in a 2004 Milan hospital scandal.

Immucor, which makes blood-transfusion equipment, allegedly lied to and deliberately misled its stockholders about the existence and extent of illegal acts carried out by its Italian subsidiary in order to inflate its stock price.

The Italian wrong-doing included bribery and contract-rigging, according to the plaintiffs, who are all Immucor shareholders.

The current...
To view the full article, register now.