From: Yousuf Khan on
Red Dwarfs May Be Safe Havens For Life : Discovery News
"But there is one big catch. Young red dwarfs have a petulant youth
stretching over billions of years. Titanic stellar flares erupt without
warning and blast out lethal doses of ultraviolet radiation. Ocean life
on a planet may be safe from the UV just a few feet underwater and still
extract enough light for photosynthesis. But anything living on the
surface could get fried without a liberal coating of Sunscreen 2000.

But we now have a glimmer of hope for red dwarf planets. Astrobiologist
Antigona Segura of the Universidad Nacional Aut�noma de M�xico (UNAM) in
Mexico City, simulated how a 1985 flare from the nearby red dwarf AD
Leonis would have affected a hypothetical Earth-like planet orbiting a
dwarf.
Agular dwarf-large

He found that UV radiation actually split molecules of oxygen to create
more ozone than it destroyed. The simulation made a thicker ozone layer
in the planetary atmosphere such that the surface experienced no more
radiation than is typical on a sunny day on Earth."
http://news.discovery.com/space/red-dwarfs-may-be-safe-havens-for-life.html#mkcpgn=rssnws1