SeraCare Emerges, Settles Securities Suit

Law360, New York (May 17, 2007, 12:00 AM EDT) -- After a year and a half of negotiations with shareholders, SeraCare Life Sciences Inc. has come out of Chapter 11 and settled a class action suit for $3 million over allegations of securities fraud.

Both steps were made under the joint reorganization plan the company had worked out with its shareholders. That plan lets SeraCare pay off its debts, exit bankruptcy under the ownership of its existing shareholders, and reincorporate in the state of Delaware.

It also allows the company to settle the suit filed by...
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