Advanced Cell Technology Announces Settlement of Litigation
1/18/2013 8:59:44 AM
MARLBOROUGH, Mass.--(BUSINESS WIRE)--Advanced Cell Technology, Inc. (“ACT”; OTCBB: ACTC or the “Company”), a leader in the field of regenerative medicine, today announced that it has reached a settlement agreement with CAMOFI and CAMZHN Master LDC (collectively, the “Investors”) resolving a lawsuit filed against ACT in the Supreme Court of New York relating to the conversion price of certain notes and the exercise price of certain warrants. The Investors claimed that the conversion price for the debentures and warrants they held should have been adjusted as a result of a transaction entered into between the Company’s previous management and an investor in 2010. At the time, the Investors had not converted most of their debentures or warrants. The Investors were the final parties to settle the litigation, which had previously been disclosed in multiple ACT 8-K filings.