CryoLife Inc.

A class action lawsuit was filed against the biomaterial and biosurgical device company alleging inadequate disclosures. CryoLife's donor tissue was associated with a death of a patient who received a soft tissue implant during reconstructive knee surgery. During its inspection, the FDA found numerous, significant violations of regulations and in August 2002, the FDA recalled the tissue. CryoLife denied any wrongdoing and liability but has agreed to a $23.3 million settlement. (Jul-28-05) [ATLANTA BUSINESS JOURNAL]