ProCyte biomaterial/skin/wound news

PRCY reached a tentative settlement in a shareholder's lawsuit filed against the company and certain of its officers and directors in October 1994. The settlement, which is subject to court approval, is for $7.75 million, of which at least $2.5 million is payable in cash. The remainder would be payable, at the company's discretion, in cash or PRCY common stock. PRCY has 13.1 million common shares outstanding, and $36 million in cash prior to the settlement. ...