Luminex settles litigation with Rules Based Medicine
Luminex Corp. (Nasdaq: LMNX), a developer and manufacturer of biological testing technologies, said this morning that it has settled pending litigation with Rules Based Medicine, Inc.
As part of the settlement, Luminex said it received a cash payment of $12.5 million from Rules Based Medicine to resolve a dispute between the two companies. The dispute involved the retirement of Luminex's stock ownership in Rules Based Medicine and the grant of certain additional licensing rights from Luminex.
Both parties said they intend to formally dismiss the lawsuit.
Shares of Luminex (LMNX) were halted in pre-market trading.
