latest news releases from the newsroom
Tax Rulings Contribute SEK 300 M to Volvo
GOTEBORG, Sweden, June 15, 2005 (PRIMEZONE) -- Administrative Court of Appeal has delivered rulings in several tax cases affecting different companies in the Volvo Group. Taken as a whole, the Administrative Court of Appeal rulings will have a positive effect of about SEK 300 M on AB Volvo's second-quarter earnings.
Volvo Buses to Close Factory in Heilbronn
GOTEBORG, Sweden, June 15, 2005 (PRIMEZONE) -- Volvo Buses is closing its coach factory in Heilbronn, Germany. The formal decision to close the factory was taken by the board of directors at Volvo Busse Industries (Deutschland) GmbH. The decision will affect around 150 people.
Glancy Binkow & Goldberg LLP
Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased Magma Design Automation, Inc., Announces Class Action Lawsuit and Seeks to Recover Losses -- LAVA
LOS ANGELES, June 14, 2005 (PRIMEZONE) -- Notice is hereby given by Glancy Binkow & Goldberg LLP that a Class Action lawsuit was filed in the United States District Court for the Northern District of California on behalf of a class (the "Class") consisting of all persons or entities who purchased or otherwise acquired securities of Magma Design Automation, Inc. ("Magma" or the "Company") (Nasdaq:LAVA), between October 23, 2002 and April 12, 2005, inclusive (the "Class Period").
NetWorth Technologies, Inc.
Networth Technologies, Inc., Solution Technology International, Inc., and STI Acquisition Corp. entered into an Agreement and Plan of Merger
FT. LAUDERDALE, Fla., June 14, 2005 (PRIMEZONE) -- On May 19, 2005, Networth Technologies, Inc. (NTI) (the "Company"), Solution Technology International, Inc. ("STI") and STI Acquisition Corp., each a Delaware corporation, entered into an Agreement and Plan of Merger pursuant to which the Company will issue shares equal to 90% of its outstanding shares at the date of the merger for 100% of the outstanding shares of STI. As a result of the Agreement, the transaction will be treated for accounting purposes as a reverse merger by the accounting acquirer (STI). The transaction is supported by a $12M financing commitment by Cornell Capital Partners in the form of a Standby Equity Distribution Agreement.