latest news releases from the newsroom
Envoy Capital Group Inc
Envoy Capital Group Inc. Renews Normal Course Issuer Bid
TORONTO, Feb. 1, 2008 (PRIME NEWSWIRE) -- Envoy Capital Group Inc. (Nasdaq:ECGI) (TSX:ECG) ("Envoy") announced today acceptance by the Toronto Stock Exchange (the "TSX") of its Notice of Intention to Make a Normal Course Issuer Bid ("NCIB"). Pursuant to the NCIB, Envoy proposes to purchase through the facilities of the TSX and the NASDAQ Capital Market ("NASDAQ"), from time to time over the next 12 months, if considered advisable, up to an aggregate of 10% of the public float, being approximately 903,880 of its Common Shares, as of the date hereof, inclusive of any shares purchased through the facilities of NASDAQ (which are limited to 5% of the issued and outstanding Shares). Except as permitted under the TSX rules, Envoy will not purchase on any given day under the bid, more than the greater of 1,000 shares and 25% of the average daily trading volume of its common shares for the six months prior to the date of this notice through the TSX. The average daily trading volume of the common shares for such period through the facilities on the TSX was 1,694 and in accordance with the requirements, a maximum daily repurchase of 1000 shares may be made, subject to block purchase exemptions. Purchases through the facilities of NASDAQ will be made in compliance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. Rule 10b-18 contains similar restrictions on the number of shares that may be repurchased based on the average daily trading volumes of the shares on NASDAQ, subject to certain exemptions for block purchases.
Keller Rohrback L.L.P.
Keller Rohrback L.L.P. Announces ERISA Breach of Fiduciary Duty Investigation Re Morgan Keegan Funds
SEATTLE, Feb. 1, 2008 (PRIME NEWSWIRE) -- Keller Rohrback L.L.P. (www.erisafraud.com) today announced that it is investigating Morgan Keegan & Company, Inc. and Morgan Asset Management, Inc. (collectively, "Morgan Keegan") for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on retirement plans that offer the Regions Morgan Keegan Select Intermediate Bond Fund and/or the Regions Morgan Keegan Select High Income Fund (collectively, the "Morgan Keegan Funds").
WSB Financial Group
WSB Financial Remains Well-Capitalized After Reporting Preliminary 4Q07 Profit of $1.1 Million and 3Q07 Loss of $7.8 Million After Adding $13.9 Million to Loan Reserves
BREMERTON, Wash., Feb. 1, 2008 (PRIME NEWSWIRE) -- WSB Financial Group (Nasdaq:WSFG), the parent company of Westsound Bank, today reported a loss in the third quarter of 2007, after significant additions to loan reserves, and preliminary fourth quarter 2007 profits. Based on the findings of an independent assessment of the loan portfolio, the company added $13.9 million, or $1.65 per share after tax, to total provisions for loan losses and unfunded commitments in the third quarter, generating a loss of $7.8 million, or $1.39 per share, for the third quarter of 2007. In the fourth quarter, WSB generated a preliminary profit of $1.1 million, or $0.19 per share.
Klayman & Toskes P.A.
Notice to All Merrill Lynch Customers Who Invested in Norma CDO I Ltd. From the Securities Law Firm of Klayman & Toskes, P.A.
NEW YORK, Feb. 1, 2008 (PRIME NEWSWIRE) -- The Securities Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com) announced today that it is investigating the damages sustained by institutional and retail customers in a collateralized debt obligation ("CDO") called Norma CDO I Ltd. ("Norma"). Norma, brought into existence by Merrill Lynch (NYSE:MER), bet heavily on the success of the sub-prime market. Just nine months after it sold about $1.5 billion in securities to its investors, the value of Norma has been decimated in the collapse of the housing market and is reported to be worth only a fraction of its original value.
Bronstein, Gewirtz & Grossman, LLC
Bronstein, Gewirtz & Grossman, LLC Announces That a Class Action Has Been Filed Against MBIA, Inc. and Certain of Its Senior Officers and Directors
NEW YORK, Feb. 1, 2008 (PRIME NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of MBIA, Inc. (NYSE:MBI) ("MBIA"). The class consists of purchasers of the MBIA common stock for the period January 30, 2007 through and including January 9, 2008.
Storage Magazine Names QLogic 8Gb Fibre Channel Network Products of the Year Finalist
ALISO VIEJO, Calif., Feb. 1, 2008 (PRIME NEWSWIRE) -- QLogic Corp. (Nasdaq:QLGC), a leader in networking for storage and high performance computing (HPC), today announced the QLogic(r) 8Gb Fibre Channel Network has been selected as a Finalist for the 2007 "Storage Products of the Year" awards. Finalists were selected by an independent team of judges and editors from SearchStorage.com and Storage Magazine who reviewed and evaluated a record number of over 200 submissions for their innovative storage technology.