latest news releases from the newsroom
Klayman & Toskes P.A.
Klayman & Toskes Files Arbitration Claim Against Morgan Keegan and Regions Financial Corp. Seeking Damages in Excess of $1.3 Million
BOCA RATON, Fla., March 31, 2008 (PRIME NEWSWIRE) -- The Securities Law Firm of Klayman & Toskes, P.A. (http://www.nasd-law.com) announced today that it filed a lawsuit against Morgan Keegan and Regions Financial Corp., with the Financial Industry Regulatory Authority's ("FINRA") Office of Dispute Resolution, seeking damages in excess of $1.3 million. The Statement of Claim alleges that the Claimants lost money in four closed-end funds, RMK Multi-Sector High Income Fund (NYSE:RHY) RMK High Income Fund (NYSE:RMH), RMK Advantage Income Fund (NYSE:RMA), and RMK Strategic Income Fund (NYSE:RSF), as a direct result of Morgan Keegan's false and misleading statements about the Funds' risk tolerance and asset allocation, as well as the lack of diversification. Further, the claim alleges that Morgan Keegan misrepresented and omitted material information in the Funds' registration statements and prospectuses concerning the nature and extent of the Funds' investments in collateralized debt obligations ("CDOs"), and the funds' resulting exposure to the subprime mortgage market.
Enbridge Energy Partners, L.P.
Enbridge Energy Partners Announces $800 Million Private Notes Offering
HOUSTON, March 31, 2008 (PRIME NEWSWIRE) -- Enbridge Energy Partners, L.P. (NYSE:EEP) (the "Partnership") announced that today it priced a private placement of notes consisting of $400 million principal amount of 6.5% Notes due 2018 at an offering price of $99.466 (per $100 of principal) to yield 6.573% and $400 million principal amount of 7.5% Notes due 2038 at an offering price of $99.711 (per $100 of principal) to yield 7.524%. The offering is scheduled to close on April 3, 2008.
SVB Financial Group
SVB Financial Group to Offer $200 Million Convertible Senior Notes
SANTA CLARA, Calif., March 31, 2008 (PRIME NEWSWIRE) -- SVB Financial Group (Nasdaq:SIVB) announced today that it proposes to offer $200 million of convertible senior notes, subject to market conditions and other factors. The notes would be due in 2011 and are to be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. SVB Financial Group also intends to grant to the initial purchaser of the notes the right to purchase up to an additional $50 million principal amount of notes solely to cover over-allotments.
Transmeridian Exploration, Inc.
Transmeridian Exploration Terminates Merger Agreement
HOUSTON, March 31, 2008 (PRIME NEWSWIRE) -- Transmeridian Exploration Incorporated (AMEX:TMY) today announced that as of March 31, 2008, it has terminated the company's merger agreement with Trans Meridian International, Inc. ("TMI"), a British Virgin Islands company formed by the company's Chairman and Chief Executive Officer, Lorrie T. Olivier. This action does not require the company to pay any termination fee to TMI and is without any other liability to the company.
Wolverine Tube Inc.
Wolverine Tube Reports 2007 Full Year and Fourth Quarter Results
HUNTSVILLE, Ala., March 31, 2008 (PRIME NEWSWIRE) -- Wolverine Tube, Inc. (OTCBB:WLVT) today reported results for the full year and fourth quarter of 2007. The net loss for the year ended December 31, 2007 was $97.0 million or $6.04 per common share compared to a net loss of $79.2 million or $5.26 per common share for 2006. Included in the 2007 results were $112.1 million of pre-tax restructuring and other charges.
Levi & Korsinsky, LLP
Levi & Korsinsky, LLP Announces Update On the Class Action Lawsuit Against UBS AG -- UBS
NEW YORK, March 31, 2008 (PRIME NEWSWIRE) -- Levi & Korsinsky, LLP (www.zlk.com) announced that it had filed a class action lawsuit on behalf of all those who purchased Auction Rate Securities from UBS AG (NYSE:UBS) between March 21, 2003 and February 13, 2008, inclusive (the "Class" or "Class Period"), and who continued to hold such securities as of February 13, 2008 to recover damages caused by UBS AG's ("UBS") violation of the federal securities laws. A copy of the Complaint is available at www.zlk.com. The class action is pending in the United States District Court for the Southern District of New York.