AUSTIN, Texas--(BUSINESS WIRE)--Luminex Corporation (NASDAQ:LMNX) today announced that it has settled the pending litigation with The Research Foundation for the State University of New York and the Board of Trustees of the University of Illinois (“Plaintiffs”). As part of the settlement, the Plaintiffs received a one time cash payment of $4.35 million with no admission of fault. The cash payment was made by Luminex in exchange for resolution of the dispute between the parties and a complete release of all claims by the Plaintiffs against Luminex, and, correspondingly a complete release of all claims by Luminex against the Plaintiffs. The entire effect of the settlement payment will be reflected as a non-recurring item in the first quarter financial results scheduled to be released on May 7, 2009. All other terms of the agreement are confidential. The parties intend to formally dismiss the lawsuit, as required by the Settlement Agreement.
