RiceBran Technologies (RIBT)

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settlement PR>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

http://finance.yahoo.com/news/NutraCea-Announces-Settlement-prnews-3288753.html?x=0&.v=1

PHOENIX, May 18 /PRNewswire-FirstCall/ -- NutraCea (Pink Sheets:NTRZ.pk - News), a world leader in stabilized rice bran (SRB) nutrient research and technology, today announced that it has reached a complete settlement of the securities class action lawsuit initially filed on February 29, 2009. The settlement of the consolidated class action suit is subject to preliminary and final approval of the United States District Court for the District of Arizona and the United States Bankruptcy Court for the District of Arizona.

Under the terms of the settlement agreement NutraCea's insurance company will create a settlement fund in the amount of $1,500,000 to pay claims submitted by class members. The settlement fund will also contain 50% of any funds remaining in the insurance policy after payment of all valid claims (including legal fees), as long as there is $150,000 or more of funds remaining in the policy. The plaintiffs were seeking damages against NutraCea and certain former officers and directors for alleged federal and Arizona state securities law violations. The settlement provides full and complete settlement for all claims against NutraCea and the other defendants under the class action suit.

W. John Short, Chairman and CEO, commented, "We are pleased to have reached this agreement, which we believe to be in the best interest of our shareholders. The resolution of the suit will allow management to focus more completely on successfully exiting chapter 11, growing our company and restoring value for our shareholders."

Anyone who purchased NutraCea shares between April 2, 2007 and February 23, 2009 may be entitled to a share of the settlement.