PerSeptive enabling technology news

The U.S. District Court in Boston approved the settlement of class action securities litigation brought against PBIO and certain officers in December 1994. As approved, PBIO is responsible for $9 million of the $12 million settlement.

According to Noubar Afeyan, president and CEO, PBIO will pay $2 million in warrants, $5 million in common stock and $2 million in cash. Afeyan said the cash is largely due in 1996. PBIO's insurers and other parties are responsible for $3 million. Prior to the settlement, the Framingham, Mass., company has 12.5 million shares outstanding. ...