PerSeptive Biosystems Inc. of Cambridge, Mass., announcedTuesday that it reached a settlement agreement with its formerpresident, James Coutre, ending further litigation.
Robert Fein, PerSeptive's vice president and chief financialofficer, declined to disclose details of the agreement, but saidthe company expects no material impact on its results ofoperations."
Under the terms of the settlement, Coutre has resigned fromthe company's board of directors.
In June, Coutre filed a wrongful termination suit againstPerSeptive and five company directors in the Superior Court ofMiddlesex County in Cambridge, Mass., contending that changesin the company's management reporting functions effectivelyended his role and his contract as the company's president andchief executive officer.
In his lawsuit Coutre asked for reinstatement as president andCEO and for unspecified damages.
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