- Advanced Cell Technology (ACTC) settles the lawsuit brought against the company by Gary Aronson and John Gorton in 2011 claiming the company breached an anti-dilution provision in the warrants held by the two men as a result of certain transactions between the company and other third-party investors.
- Pursuant to the settlement, the company will issue Aronson 269,766,667 shares of ACTC common stock. It will issue Gorton 33,133,333 shares of common stock.
- As compensation for legal fees, it will issue 68,266,667 shares of common stock to the attorneys for Aronson (Herron), 8,533,333 to the attorneys for Gorton (Miller/Steele) and 4,300,000 shares to another attorney that represented both men (Bourke).
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