Lawsuit against Verenium dismissed

A lawsuit filed by Capital Ventures International (CVI) against Verenium, a US-based company dedicated to the development and commercialisation of high-performance industrial enzyme solutions, has been dismissed.

Verenium’s motion for summary judgement to dismiss CVI’s complaint was granted by the US District Court for the Southern District of New York.

CVI’s complaint related to a dispute over the terms of Verenium’s 8% Senior Convertible Notes.

‘We are very pleased with the outcome, which confirms that we acted in the best interests of the company and our shareholders in defending our position in this case,’ said Carlos Riva, CEO of Verenium. ‘We continue to look forward to a successful and productive year.’

Source: Verenium Corporation