latest news releases from the newsroom
Napoli Bern Ripka Shkolnik, LLP
Individual Investor That Lost $100,000 in the Yield Plus Fund Filed An Arbitration Claim Against Charles Schwab, Following $542,340 FINRA Arbitration Award, Senior Partners Paul J. Napoli and Marc Jay Bern of the Law Firm Napoli Bern Ripka Announce -- SCHW, SWYPX, SWYSX
NEW YORK, Oct. 29, 2008 (GLOBE NEWSWIRE) -- The law firm of Napoli Bern Ripka, LLP announced today that a claim was filed with FINRA (Financial Industry Regulatory Authority) against Charles Schwab & Co. The claim was filed on behalf of an investor who seeks $100,000 in damages for losses sustained in the Schwab YieldPlus Select Fund (SWYSX) (SWYPX).
Banner Corporation Announces Third Quarter Results; Includes $2.9 Million Operating Profit and Remains 'Well Capitalized'
WALLA WALLA, Wash., Oct. 29, 2008 (GLOBE NEWSWIRE) -- Banner Corporation (Nasdaq:BANR), the parent company of Banner Bank and Islanders Bank, today reported that it had net operating income,* excluding net fair value adjustments, of $2.9 million, or $0.18 per diluted share, for the quarter ended September 30, 2008, compared to net operating income, excluding fair value adjustments, of $8.0 million, or $0.51 per diluted share, for the quarter ended September 30, 2007. The current quarter's net operating income included an $8 million provision for loan losses. As previously announced, the current quarter's results were also adversely affected by a significant reduction in the fair value of the Company's investment in Fannie Mae and Freddie Mac equity securities. Including the fair value adjustments, which in the current quarter predominantly reflects the valuation of the Fannie Mae and Freddie Mac securities, Banner recorded a net loss of $1.0 million, or $0.06 per diluted share, for the quarter ended September 30, 2008, compared to net income of $10.0 million, or $0.64 per diluted share, for the quarter ended September 30, 2007.
Alico Announces Receipt of Service for a Shareholder Derivative Action Filed by Former Director Baxter Troutman
LA BELLE, Fla., Oct. 29, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced today that it has been served with a shareholder derivative action complaint filed by Baxter Troutman against J. D. Alexander and John R. Alexander which names Alico as a nominal defendant. Mr. Troutman is the cousin and nephew of the two defendants respectively and is a shareholder in Atlanticblue, Inc., a (50.6%) shareholder of Alico. From February 26, 2004 until January 18, 2008 he was a director of Alico. Although his complaint does not provide much specificity, he appears to allege that J.D. Alexander and John R. Alexander committed breaches of fiduciary duty in connection with the proposed merger of Atlanticblue into Alico which was proposed in 2004 and withdrawn by Atlanticblue in 2005. He also appears to allege, among other things, that the merger proposal was wrongly requested by defendants J. D. Alexander and John R. Alexander and improperly included a proposed special dividend; and that the Alexander's sought to circumvent the Board's nominating process to insure that they constituted a substantial part of Alico's senior management team and these actions were contrary to the position of Alico's independent directors at the time causing a waste of Alico's funds and the resignations of the independent directors in 2005. As a result the complaint is seeking damages to be paid to Alico by the Alexander's in excess of $1,000,000. The complaint concedes that Mr. Troutman has not previously made demand upon Alico to take action for the alleged wrongdoing as required by Florida law alleging that he believed such a demand would be futile. A copy of the Complaint may be obtained from the Clerk of the Circuit Court in Polk County, Florida.
PGT Industries, Inc
PGT Reports 2008 Third Quarter and First Nine Months Results
VENICE, Fla., Oct. 29, 2008 (GLOBE NEWSWIRE) -- PGT, Inc. (Nasdaq:PGTI), the leading U.S. manufacturer and supplier of residential impact-resistant windows and doors, today announced financial results for its third quarter and first nine months ended September 27, 2008.
Momenta Pharmaceuticals to Present At Oppenheimer 19th Annual Healthcare Conference
CAMBRIDGE, Mass., Oct. 29, 2008 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA), a biotechnology company specializing in the characterization and engineering of complex drugs, today announced that Rick Shea, Chief Financial Officer, will deliver a corporate presentation at the Oppenheimer 19th Annual Healthcare Conference on Tuesday, November 4th at 8:00 a.m. EST. The conference will be held at the Waldorf-Astoria Hotel, New York City.
WCA Waste Corporation
WCA Waste Corporation Announces Third Quarter 2008 Results
HOUSTON, Oct. 29, 2008 (GLOBE NEWSWIRE) -- WCA Waste Corporation (Nasdaq:WCAA) announced today financial results for the third quarter ended September 30, 2008. For the quarter ended September 30, 2008, revenue increased 9.0% to $52.8 million compared to the $48.4 million for the same period last year. Operating income for the quarter was $7.0 million, as compared to $8.1 million for the comparable quarter last year. The margin decline is principally a result of increased fuel expense reducing margins by 3.1% of revenue. Including the negative impact of the interest rate swap, net income available to common stockholders was $(0.3) million, or $(0.02) per share, for the three months ended September 30, 2008. Adjusted for the impact of the interest rate swap, net income available to common stockholders was $0.3 million, or $0.02 per share, for the three months ended September 30, 2008 (please refer to the attached schedule).
Polypore International, Inc.
Polypore Reports Third Quarter 2008 Results
CHARLOTTE, N.C., Oct. 29, 2008 (GLOBE NEWSWIRE) -- Polypore International, Inc. (NYSE:PPO) today reported its financial results for the third quarter ended September 27, 2008.