Luna Innovations Rises On Potential Settlement (LUNA)
Fri. September 25, 2009; Posted: 01:08 PM
Sep 25, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 9/25/2009-Shares of Luna Innovations Inc. (NASDAQ:LUNA) surged 163% higher Friday on news that the firm reached a tentative settlement that would lower a $36.3 million jury verdict that carries a fine that doesn't endanger the firms future. The tech firm and Hansen Medical Inc. "have developed a framework for settlement," said both companies' attorneys in a bankruptcy court. Terms of the initial settlement were not disclosed, however.
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