MBI to settle US class action suits for $12 million

Date:06-03-2016

Recently,  Marrone Bio Innovations(MBI) has reached an agreement to settle a class action lawsuit brought by shareholders against the company and current and former directors and officers.

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, the company said.

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