If you purchased or otherwise acquired the common stock (“Stock”) of NutraCea, Inc. (“NutraCea”) during the period from April 2, 2007 through and including February 23, 2009 you could get a payment from a class action settlement (the “Settlement”).
A class action settlement has been reached in a class action lawsuit pending against NutraCea, Inc. (“NutraCea”) and others (collectively “Defendants”) in the United States District Court for the District of Arizona (styled Jennifer Burritt v. NutraCea, Inc. et al., Case No. CV-09-406-PHX-FJM) alleging, among other things, that Defendants violated federal and Arizona securities laws by signing, certifying and filing financial statements with the SEC that were false and misleading due to various accounting manipulations, including recording revenue in violation of Generally Accepted Accounting Principles (“GAAP”) and made other allegedly misleading statements regarding the financial results of NutraCea, according to the NutraCea securities fraud class action settlement notice.
If approved by the Court, the NutraCea class action Settlement will create a Settlement Fund comprised of $1,500,000, and fifty percent (50%) of any funds remaining in the insurance policy issued by Defendants’ directors and officers liability insurer, Carolina Casualty Insurance Company (“Carolina”), to the Company and its officers and directors (the “Insurance Policy” or “Policy”) after payment of all valid claims under the Policy and payment of all legal fees related to such valid claims as long as there is $150,000 or more of funds remaining in the Policy, plus interest (the “Settlement Amount”), to pay claims of investors who purchased NutraCea Stock
during the period from April 2, 2007 through and including February 23, 2009 (the “Class Period”).
If You Have Thoughts On TheNutraCea Securities Class Action Lawsuit Settlement, Share Your Settlement Comments Below.