Lawsuit Overview
Settlement Overview
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June 13, 2013 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
March 6, 2013 - The court preliminarily approved the settlement.
March 5, 2013 - Parties filed a stipulation of settlement.
October 2, 2012 - The U.S. Court of Appeals for the Eleventh Circuit granted the motion to stay appeal proceedings.
September 28, 2011 - The lead plaintiff filed a notice of appeal.
August 29, 2011 - The court denied the motion for reconsideration.
July 29, 2011 - The lead plaintiff filed a motion for reconsideration.
June 30, 2011 - The court granted the defendants' renewed motion to dismiss.
April 15, 2011 - The defendants filed a renewed motion to dismiss.
March 30, 2011 - The court denied the defendants' motion to dismiss without prejudice.
June 25, 2010 - The defendants filed a motion to dismiss.
April 2, 2010 - The lead plaintiff filed an an amended consolidated complaint.
January 14, 2010 - The lead plaintiff and lead counsel were appointed.
October 26, 2009 - Lead plaintiff motions were filed.
October 1, 2009 - Another investor filed a complaint.
September 21, 2009 - Another investor filed a complaint.
August 27, 2009 - An investor in shares of Immucor Inc (NASDAQ: BLUD) has filed a lawsuit in the U.S. District Court for the Northern District of Georgia against Immucor Inc and others over alleged violations of Federal Securities Laws.
According to the complaint the plaintiff alleges that Immucor Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by failing to disclose that Immucor Inc was operating in violation of the federal antitrust laws of the United States. The plaintiff accuses that between October 19, 2005 and April 23, 2009 the defendants materially misrepresented Immucor Inc’s business operations. On April 24, 2009, Immucor Inc issued a press release, which stated in part: “Immucor, Inc., a global leader in providing automated instrument-reagent systems to the blood transfusion industry, today announced that it received a subpoena from the United States Department of Justice, Antitrust Division, requesting documents for the period beginning September 1, 2000 through the present, pertaining to an investigation of possible violations of the federal criminal antitrust laws in the blood reagents industry. Immucor intends to fully cooperate with the investigation.”
As a result of this disclosure, Immucor Inc’s closing stock price dropped from $20.98 on April 23, 2009 to $15.35 the next trading day, so the lawsuit.
The plaintiff accuses that this decrease in Immucor Inc’s stock price was a result of the artificial inflation caused by defendants’ misleading statements coming out of the stock price.
Immucor Inc, located in Norcross, GA, develops, manufactures and sells a line of reagents and automated systems that detect and identify certain properties of the cell and serum components of human blood for the purpose of blood transfusion. Immucor Inc reported in 2007 (ending on May 31, 2008) Total Revenue of 261.20million with a Net Income of $71.45million and in 2008 (ending on May 31, 2009) Total Revenue of $300.55million with a Net Income of $76.18million. Immucor Inc shares (NASDAQ: BLUD) recently traded at $18.47 per share, down from a 52weekHigh of $33.80 per share and almost $40 per share in 2007.