Note 5 - Legal Proceedings

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Legal Matters and Contingencies [Text Block]

5 . Legal Proceedings

In the normal course of business, we are involved in claims and lawsuits

none

of which currently, in our opinion, will have a material adverse effect on our consolidated financial statements.

On

February 5, 2018,

a putative class action was filed in the United States District Court for the Middle District of North Carolina against us, our directors and certain former directors in connection with the Asset Sale. The lawsuit alleged, among other things, that we violated the Securities Exchange Act of

1934,

as amended, by omitting certain material information from the proxy statement relating to the proposed sale of substantially all our assets. The complaint sought, among other things, injunctive relief preventing the consummation of the proposed sale of substantially all our assets until disclosure of the material information allegedly omitted from the proxy statement, rescission of the Asset Purchase Agreement to the extent already implemented, and the award of attorneys’ and experts’ fees and certain other damages. While we believed the claims were without merit, we determined to provide additional disclosure in a supplement to the proxy statement in order to alleviate the costs, risks and uncertainties inherent with litigation.  We reached an agreement with the plaintiff regarding our additional disclosures and the lawsuit was dismissed on

March 

12,

2018.