latest news releases from the newsroom
AB Volvo announces repurchase of 300,000 B shares and 15,000 A shares
GOTEBORG, Sweden, Dec. 16, 2004 (PRIMEZONE) -- Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004, regarding repurchase of own shares, AB Volvo has, on Wednesday, December 15, acquired 300,000 series B shares. The shares were traded between SEK 269.50 and 272.00 with an average price of SEK 270.63. And has acquired 15,000 series A shares. The shares were traded between SEK 259.00 and 260.50 with an average price of SEK 259.93.
Scott + Scott, LLC's Representation of Merck Employees in Class Action to Protect Retirement Benefits Grows in Number as Merck Announces Elimination of 5,100 Jobs by Year End -- MRK
COLCHESTER, Conn., Dec. 15, 2004 (PRIMEZONE) -- Scott + Scott, LLC (e-mail MerckERISALitigation@scott-scott.com or firstname.lastname@example.org), filed a class action lawsuit on behalf of participants and beneficiaries of the Merck & Co., Inc. (NYSE:MRK) Savings and Security Plan and the Employee Stock Purchase and Security Plan. The lawsuit has been filed to recover losses that current and former Merck employees have suffered in their retirement accounts. Merck plans to slash 5,100 jobs at the Company by year end and plans to take other drastic measures to cut costs at the company, a move that has many employee plaintiffs concerned. The retirement losses and job cuts are due in large part to Merck's deteriorating outlook following the recall of Vioxx, one of Merck's best-selling drugs. Scott + Scott's investigation of this case is ongoing and the firm expects that there may be exposure in other ways as well.
Clarification Statement of Accesstel Announcement of $8 Million Private Placement
FAIRFIELD, N.J., Dec. 15, 2004 (PRIMEZONE) -- Accesstel, Inc. (OTCBB:ASTI) announced today clarifications to press releases issued on October 28, November 29 and December 6, 2004. The first two press releases stated that Accesstel was poised to attain certain revenue and net profit levels in the next 18 months. These revenue and net profit levels projected in these press releases were based, in part, on the assumption that Accesstel would be able to raise additional equity capital, and on assumptions based on, among other things, the Company's operating and financial performance over recent years and its expectations about its business for the current and future fiscal years.
CorpHQ Announces Management Change
REDONDO BEACH, Calif., Dec. 15, 2004 (PRIMEZONE) -- CorpHQ (Pink Sheets:COHQ) announced today that it has accepted the resignation of Carlton McGee as its Chief Financial Officer (CFO). Mr. McGee will continue as a member of the Company's professional team as Senior Advisor to the Chief Executive Officer. In his new role, Mr. McGee will focus on enhancing existing relationships and building new ones on behalf of CorpHQ and its portfolio companies from offices in Jersey City, NJ.
Horizon Offshore Inc.
Horizon Offshore Announces President's Resignation, Appointment of Chief Operating Officer
HOUSTON, Dec. 15, 2004 (PRIMEZONE) -- Horizon Offshore, Inc. (NASDAQ:HOFF) announced that Bill J. Lam, President of the Company, has exercised his right to terminate his employment with the Company in accordance with his employment contract. Mr. Lam will be entitled to receive deferred payments of the severance benefits due under his amended employment agreement. The Company's Board of Directors will begin a search, considering both internal and external candidates, for a Chief Executive Officer, a position currently held on an interim basis by Richard A. Sebastiao, who will remain as the Company's Chief Restructuring Officer until the search is completed.