Cholestech counts cost of class action suit settlement
This article was originally published in Clinica
US point-of-care diagnostics company Cholestech has agreed to settle a 1999 securities class action suit. The company's insurance will pay $3 million, but Cholestech itself will incur an additional charge of $706,000 in the quarter to March 2001. Total costs to the company in legal fees and insurance costs are estimated at $1.3 million.