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 sooner that the company was under federal investigation for the alleged conspiracy.

Tuesday's request for...

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