Health and nutritional supplements maker Martek Biosciences Corp (Nasdaq: MATK) announced yesterday that it has entered into a tentative settlement of claims in a class-action lawsuit alleging the company committed securities violations.
The proposed settlement will result in the dismissal of the claims against Martek and all other defendants, in exchange for a cash payment of $6 million to the settlement fund, to be paid by the company’s insurer.
About Martek Biosciences Corporation
Martek Biosciences Corporation develops DHA omega-3 products to promote health and wellness. The company produces life’sDHA(TM), a sustainable and vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, beverages, infant formula, and supplements. The company also produces life’sARA(TM)(arachidonic acid), an omega-6 fatty acid, from a sustainable, vegetarian source, for use in infant formula.
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