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The two tribes rowing at Futuragene have gone to war. Last week the company announced it had initiated legal proceedings in the US against a number of individuals, including the former CEO, Bruno Ruggiero, and the COO, Marta Zgagacz, and two companies with which they are connected alleging breach of contract, unfair competition and civil conspiracy. Meanwhile a motion to dismiss a claim made against the company by the former CEO has been heard and a written order is expected shortly.

At the centre of this row is the issue of back-end consideration for the purchase of the business that forms the core of today’s Futuragene. If events in the States help to bring this long-running feud to a head, that would be good for the share price, currently 24.5p compared with a recommendation level in March of 29p. Continue to hold.

Futuragene	AIM	£14.55m	33.50p	-1.00p
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Other company articles:
Futuragene row goes to court			07/12/2007
Futuragene announces further Chinese collaboration			26/10/2007
Futuragene ties up alfalfa deal			28/09/2007
FuturaGene: impasse continues			03/08/2007
Futuragene’s biofuels potential			29/06/2007