latest news releases from the newsroom
The Pomerantz Firm's Update On the Worsening Situation at Refco, Inc. -- RFX, RFXCQ
NEW YORK, Oct. 19, 2005 (PRIMEZONE) -- On October 12, 2005, Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) filed a class action complaint in the United States District Court, Southern District of New York, on behalf of investors who purchased the common stock of Refco, Inc. ("Refco") (NYSE:RFX) (Pink Sheets:RFXCQ) between August 11, 2005 and October 7, 2005 ("Class Period"). Refco has now conceded that the Registration Statement that was issued in connection with its August 11, 2005 initial public offering ("IPO") contained false financials and failed to disclose $430 million in uncollectible debts owed to it by a company controlled by Philip R. Bennett, Refco's CEO, Chairman and controlling shareholder. Bennett engaged in offsetting transactions with a hedge fund client of Refco at the end of each quarter and the beginning of the next to keep the bad debt off Refco's books. Defendants in the case are Refco, Bennett, Gerald M. Sherer (Refco's CFO), certain underwriters, and Refco's outside auditors, Grant Thornton LLP. Plaintiff seeks remedies under Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Integrated Camera Optics, Corp.
Infotex Holdings, Inc. to Change Name to Integrated Camera Optics, Corp.
BOYNTON BEACH, Fla., Oct. 19, 2005 (PRIMEZONE) -- Roy Vinkemeier, President of Infotex Holdings, Inc. (Pink Sheets:IFXH), said upon completion of the Stock Exchange Agreement with Integrated Camera Optics, Corp. that the surviving Company will be Integrated Camera Optics, Corp. Stuart Leviton, President and CEO of Integrated Camera, said that he will immediately change the name of the Corporation to Integrated Camera Optics, Corp. and apply for a new trading symbol once the Agreement is signed by both parties.
First Horizon National Corporation
First Horizon Announces Dividend Increase
MEMPHIS, Tenn., Oct. 19, 2005 (PRIMEZONE) -- Today First Horizon National Corporation's (NYSE:FHN) board of directors declared a dividend of $.45 per share payable on Jan. 1, 2006, to shareholders of record on Dec. 16, 2005. This action increases First Horizon's quarterly dividend rate 4.7 percent, from $.43 per share. With the increase, the annual dividend rate will be $1.80 per share. This is the 437th consecutive quarter that First Horizon has paid a dividend.
PayStar Concludes Infostations Division Divestiture
LODI, Calif., Oct. 19, 2005 (PRIMEZONE) -- PayStar Corporation (Pink Sheets:PYST), one of the nation's leading technology providers of stored value debit cards, Kiosk marketing and management, announced today the spin-off of its InfoStations kiosk division to Strategic Management and Opportunity Corporation (SMOC). PayStar completed the spin-off effective September 30, 2005. The sale included the recent AAFES Photo kiosk Joint Venture agreement and related assets. Proceeds consisted of stock in SMOC and other associated compensation.
AutoZone Announces Promotions
MEMPHIS, Tenn. Oct. 19, 2005 (PRIMEZONE) -- AutoZone, Inc. (NYSE:AZO), the nation's leading auto parts retailer, today announced key organizational changes. Effective immediately, Bob Olsen has been promoted to Executive Vice President, Supply Chain, IT, Mexico and Store Development. Mr. Olsen had been Senior Vice President, Store Development and Mexico. Also, Harry Goldsmith, currently Senior Vice President, General Counsel, and Secretary has been promoted to Executive Vice President, General Counsel, and Secretary. In addition, Tim Briggs, currently Vice President, Human Resources has been promoted to Senior Vice President, Human Resources.
Transmeridian Exploration, Inc.
Transmeridian Exploration Investor Presentation Almaty, Kazakhstan
HOUSTON, Oct. 19, 2005 (PRIMEZONE) -- Transmeridian Exploration, Inc. (AMEX:TMY) announced today that the company will be presenting at The Aton Capital Investor Conference in Almaty, Kazakhstan on Monday, October 24th. The presentation will be held at 12:30 p.m. in the "Abay" Conference Room at The Regent Ankara Hotel Almaty located at 181 Zheltoksan Street. Aton Capital specializes in the Caspian Sea Region.
FreeHand Systems International, Inc.
FreeHand Systems International, Inc. Consolidates Offices
SCOTTSDALE, Ariz., Oct. 19, 2005 (PRIMEZONE) -- Angelo J. Panzarella, Director of FreeHand Systems International, Inc. (Pink Sheets:FSYI), announced today that for economic reasons and to streamline communication between the parent and the subsidiary, the Scottsdale Arizona and the Los Altos office will be consolidated into the Los Altos office as soon as practical. Effective immediately, all correspondence for FreeHand Systems International, Inc. and its subsidiary should be sent to the Los Altos, California address.