Odyssey Marine (OMEX) Announces Passing Of Board Member - Shares Continue To Sink

July 6, 2009 2:40 PM EDT

Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) announced with sadness the loss of Board Member George A. Knutsson on July 1, 2009 at the age of 71. Mr. Knutsson served as a Board Member and as Chairman of the Audit Committee since June 2001.

Note - share continue their slide, falling almost 9% today. The stock was chopped over 45% back on June 3, 2009 after the company was ordered to return (to Spain) over 500,000 gold and silver coins that it discovered on the sunken Nuestra Senora de las Mercedes, a Spanish vessel disappeared in 1804.

Odyssey Marine Exploration planned to file a written objection to the ruling, but the shares have continued to fall...and are now down over 60% since June 3rd. The entire market cap of the company is now under $85 million. [SM]

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