latest news releases from the newsroom
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
Vivendi Plunges on Liquidity Questions and Accounting Improprieties, Says The Pomerantz Firm -- V
NEW YORK, Aug. 15, 2002 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) filed a class action lawsuit in the United States District Court for the Southern District of New York against Vivendi Universal ("Vivendi" or the "Company") (NYSE:V) and Jean-Marie Messier, the Company's former Chairman and Chief Executive Officer, on behalf of investors who purchased or otherwise acquired the securities of Vivendi during the period from February 11, 2002 through July 3, 2002, inclusive (the "Class Period"). The lawsuit charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements throughout the Class Period which served to artificially inflate the price of Vivendi's shares.
PurchasePro Announces Strategic Relationship With Inter-American Data
LAS VEGAS, Aug. 15, 2002 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) today announced that it has formed a strategic relationship with Georgia-based Inter-American Data (IAD), a provider of software products and solutions to the hospitality industry. As part of the relationship, IAD acquires PurchasePro's Stratton Warren unit in a cash transaction valued at $2.5 million. The relationship and transaction were effective on August 13, 2002.