Immucor Puts Up $4M To Settle Price-Fixing Coverup Claims

Law360, Los Angeles (March 6, 2013, 10:26 PM EST) -- Immucor Inc. will pay $3.9 million to settle a securities class action in Georgia federal court accusing the blood-bank instrument maker of defrauding shareholders by covering up a U.S. Department of Justice investigation over a price-fixing scheme, according to a Tuesday motion.

The suit claimed Immucor had artificially inflated its stock price from October 2005 to April 2009 through a scheme with Johnson & Johnson subsidiary Ortho-Clinical Diagnostics Inc. to fix prices for blood reagents. The class action also said Immucor should have disclosed to shareholders...
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