latest news releases from the newsroom
Silicon Motion Technology Corporation
Silicon Motion Technology Corporation Announces $40 Million Stock Repurchase Program
TAIPEI, Taiwan, March 12, 2008 (PRIME NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq:SIMO), a leading fabless semiconductor company that designs, develops, and markets high-performance, low-power semiconductor solutions for the multimedia consumer electronics market, today announced a share repurchase program under which the Company, or one of its affiliates, may repurchase up to $40 million of its American Depositary Shares ("ADS").
Kahn Swick & Foti, LLC
Investor Alert: KGS Announces Extension of Class Period in Centerline Holding Securities Fraud Class Action Lawsuit -- Investors Have Until March 18, 2008 to Request Lead Plaintiff Position -- CHC
NEW ORLEANS, March 12, 2008 (PRIME NEWSWIRE) -- Kahn Gauthier Swick, LLC ("KGS") announces that shareholders of Centerline Holding Company ("Centerline" or the "Company") (NYSE:CHC) who purchased shares of the Company between December 5, 2006 and December 28, 2007, have only until March 18, 2008 to move for appointment as Lead Plaintiff in a securities class action lawsuit currently pending in the United States District Court for the Southern District of New York. Prior to the filing of KGS' case, the earliest a shareholder could have purchased Centerline shares to be included in this class action was March 12, 2007. No class has yet been certified in this action.
Internet Initiative Japan Inc.
IIJ to Establish New Print-On-Demand Company
NEW YORK, March 11, 2008 (PRIME NEWSWIRE) -- Internet Initiative Japan Inc. (IIJ) (Nasdaq:IIJI) (TSE1: 3774), one of Japan's leading Internet access and comprehensive network solutions providers, today announced it will establish On-Demand Solutions Inc., as a 100%-owned subsidiary providing on-demand printing services primarily to companies in the financial industry. Mr. Mitsuru Koike, a senior councilor with Nomura Research Institute, Ltd., (NRI) (TSE1: 4307) will serve as president of the new venture.
Levi & Korsinsky, LLP
Levi & Korsinsky, LLP Announces a Nationwide Class Action Investigation in Auction Rate Securities Losses
NEW YORK, March 11, 2008 (PRIME NEWSWIRE) -- Levi & Korsinsky, LLP (www.zlk.com) is investigating alleged securities fraud in connection with the sale of Auction Rate Securities by Citigroup, Inc (NYSE:C), Bear Sterns (NYSE:BSC), Goldman Sachs (NYSE:GS), J.P. Morgan Securities, Lehman Brothers Holdings (NYSE:LEH), Merrill Lynch (NYSE:MER), Morgan Stanley (NYSE:MS), RBC Dain Rauscher, Wachovia Corp. (NYSE:WB), UBS (NYSE:UBS), H&R Block (NYSE:HRB), E*Trade (Nasdaq:ETFC)(collectively "Broker-Dealers").
Tecumseh Products Company
Tecumseh Products Company Announces Communications With The Herrick Foundation
TECUMSEH, Mich., March 11, 2008 (PRIME NEWSWIRE) -- Tecumseh Products Company (Nasdaq:TECUA) (Nasdaq:TECUB) ("Tecumseh" or the "Company") today announced that its Board of Directors received a letter, dated March 10, 2008, from The Herrick Foundation, a shareholder of Tecumseh, in which the foundation requested, among other things, that the Board form a committee to explore a possible sale of Tecumseh and take various actions to change the Company's corporate governance posture, including seeking shareholder approval at Tecumseh's 2008 annual shareholders meeting to eliminate provisions contained in the Company's amended certificate of incorporation that protect Class A shareholders. In addition, on March 10, 2008 the Herrick Foundation filed with the SEC a Form 13D which among other disclosures includes a copy of the letter received by the Board.
Ocwen Financial Corp.
Ocwen Financial Corporation Announces Termination of 'Going Private' Proposal
WEST PALM BEACH, Fla., March 11, 2008 (PRIME NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) (the "Company") today announced that it has been unable to reach an agreement as to the terms of a definitive agreement regarding a proposal (the "Proposal") made on January 14, 2008 by a group of investors led by William C. Erbey, Chairman and Chief Executive Officer of the Company ("Mr. Erbey"), Oaktree Capital Management, L.P. ("Oaktree") and Angelo, Gordon & Co., L.P. ("Angelo Gordon" and, together with Oaktree, the "Sponsors") to acquire all of the outstanding shares of the Company for $7.00 per share in cash. As a result, on March 11, 2008, the Sponsors delivered to the Special Committee of independent directors established to consider the Proposal (the "Special Committee") and to Mr. Erbey separate letters stating that the Sponsors were terminating discussions with the Special Committee regarding the Proposal. The Special Committee will continue to consider possible strategic opportunities for the Company, but has not made a decision with regard thereto. There can be no assurance that any transaction involving the Company will occur.
Dow Jones Indexes
Component Changes Made to Dow Jones Country Titans Indexes
NEW YORK, March 11, 2008 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced the results of the regular annual review of the Dow Jones Country Titans Indexes. Effective March 24, 2008, the 29 changes listed below will occur in the Dow Jones Country Titans Indexes for the following countries: Australia, Canada, France, Hong Kong, Italy, Japan, Russia, South Africa, Spain, Sri Lanka, Sweden, Turkey and the United Kingdom.