Murex settles litigation, incurs loss
This article was originally published in Clinica
Murex has reported a net loss of $2.2 million in the first quarter ended March 31st, 1995, compared with a net income of $971,000 in the 1994 first quarter. The loss includes a charge of $3.1 million for litigation settlements. Murex and parties to 1992 class action suits and a subsequent action filed in 1994 have settled all claims for $5.4 million, of which Murex will pay a portion. Murex has not admitted liability to the claims, which alleged misrepresentation of company facts and insider trading. The settlement is subject to a definitive agreement and court confirmation.
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