latest news releases from the newsroom
FierceMarkets Announces Keynotes for WiMAX Event NXTcomm
WASHINGTON, May 3, 2007 (PRIME NEWSWIRE) -- FierceMarkets (www.fiercemarkets.com), publishers of FierceWiFi and FierceWireless, announced today that Sprint Nextel CTO and President of 4G Mobile Broadband, Barry West, and Clearwire CSO, Scott Richardson, will provide the keynote addresses during the upcoming WiMAX Strategies event. The one-day conference will be held in conjunction with NXTcomm 2007 on June 21, 2007 in Chicago.
Kratos Defense & Security Solutions, Inc.
WFI Announces Lawsuit Against Former Stock Option Administrator
SAN DIEGO, May 3, 2007 (PRIME NEWSWIRE) -- WFI (Nasdaq:WFII) announced today that it has filed a lawsuit against a former employee, who previously served as its stock option administrator and left the Company in mid-2004, and his spouse. The lawsuit seeks to recover damages resulting from an apparent theft by the former employee of WFI stock options and common stock valued in excess of $7 million. The alleged thefts, which appear to have taken place during 2002 and 2003, were discovered through the Company's ongoing review of its past practices related to the granting and pricing of employee stock options with the assistance of its outside counsel and forensic computer consultants. The complaint also alleges that the former employee attempted to cover up the scheme by, among other things, deleting entries from the Company's records. WFI reported this discovery to the U.S. Securities and Exchange Commission (SEC), which has filed a federal lawsuit and application for a temporary restraining order and asset freeze against the former employee and his spouse. WFI is cooperating with the SEC on this matter.