In March 2, 2012, the Honorable Josephine Staton Tucker of the United States District Court for the Central District of California granted final approval to a settlement in the amount of $5 million in cash, plus payment of notice and administration expenses up to a cumulative cap of $500,000 in the class action In re Beckman Coulter, Inc. Sec. Litig., Case No.: 8:10-cv-1327-JST (RNBx) (C.D.Cal.).
Labaton Sucharow and Berger & Montague, P.C., are the Court-appointed lead counsel for lead plaintiff Arkansas Teacher Retirement System and Iron Workers District Council of New England Pension Fund and the Class.
Lead plaintiff, on behalf of the class, alleges that Beckman Coulter Inc. ("Beckman") and certain individual defendants made material misstatements and omissions regarding product quality, safety, Food and Drug Administration ("FDA") regulatory compliance, and Beckman's troponin test, as well as likely customer retention, recurring revenue, business prospects, and earnings forecasts and guidance, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, which had the effect of artificially inflating the price of Beckman's common stock.
If you purchased or otherwise acquired Beckman common stock between July 31, 2009 and July 22, 2010, inclusive, and were allegedly damaged thereby, you may be eligible to recover if you submit a Proof of Claim and Release form ("Proof of Claim") with supporting documents by April 12, 2012.
The deadline for objecting to the settlement or for seeking exclusion from the class has passed. A settlement hearing was held on February 27, 2012 before Judge Tucker in Courtroom 10A of the United States District Court for the Central District of California, Santa Ana Courthouse, 411 West Fourth Street, Santa Ana, CA 92701.
Copies of relevant settlement documents can be accessed by clicking on the links to the right.