Marrone Bio Innovations

May 27, 2016
Marrone Bio to settle shareholder suits for $12 million

Marrone Bio Innovations has reached an agreement to settle private securities class action suits. Shareholder suits were consolidated in the U.S. District Court for the Eastern District of California on February 13, 2015 as Special Situations Fund III QP, L.P. et al v. Marrone Bio Innovations, Inc. et al.

The agreement provides for a settlement payment of $12 million, which will be paid by insurance carriers. The settlement of these lawsuits will have no adverse impact on the company’s financial position or operations, Marrone Bio said in a statement.

The agreement is subject to review and approval by the court after notice and an opportunity to object are provided to the plaintiff class.


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