latest news releases from the newsroom
Teleca Opens New Office in Taiwan
MALMO, Sweden, Dec. 6, 2004 (PRIMEZONE) -- Teleca has decided to establish a subsidiary in Taipei, Taiwan, in January 2005. Teleca already has several important mobile phone customers in Taiwan, and a local sales team has been in place for some time. The managing director of the new company is James Wei, who has joined Teleca from Openwave Systems Inc. in Taiwan, where he was general manager for 3 years. The new subsidiary will strengthen Teleca's position as one of the world's leading integrators of mobile phone software.
Murray, Frank & Sailer LLP
Investor Notice: Murray, Frank & Sailer LLP Files Shareholder Class Action Against UTStarcom, Inc. -- UTSI
NEW YORK, Dec. 3, 2004 (PRIMEZONE) -- Murray, Frank & Sailer LLP announces a class action lawsuit on behalf of purchasers of the securities of UTStarcom, Inc. ("UTStarcom" or the "Company") (Nasdaq:UTSI) between April 16, 2003 and September 20, 2004, inclusive (the "Class Period").
Taro Pharmaceutical Industries Ltd.
Taro USA Receives Approval For Mometasone Furoate Ointment, USP 0.1% ANDA
HAWTHORNE, N.Y., Dec. 3, 2004 (PRIMEZONE) -- Taro Pharmaceutical Industries Ltd. (Nasdaq:TARO) reported today that Taro Pharmaceuticals U.S.A., Inc. ("Taro USA"), its U.S. affiliate, has received approval from the U.S. Food and Drug Administration ("FDA") for its Abbreviated New Drug Application ("ANDA") for Mometasone Furoate Ointment, USP 0.1% ("mometasone ointment"). In addition, Taro USA received tentative approval for its ANDA for Mometasone Furoate Cream, USP 0.1% ("mometasone cream").
United Online, Inc.
United Online Enters Into Credit Agreement; Announces Satisfaction Of Financing Condition To Dutch Auction Tender Offer and Extends The Expiration Date To 12:00 Noon, Monday, December 13, 2004
WOODLAND HILLS, Calif., Dec. 3, 2004 (PRIMEZONE) -- United Online, Inc. (Nasdaq:UNTD) announced today it has entered into a credit agreement with Deutsche Bank Trust Company Americas and Deutsche Bank Securities Inc. that will allow United Online to borrow between $100 million and $150 million. The proceeds of the term loan facility will be used to purchase shares pursuant to United Online's previously announced Dutch auction tender offer for up to 14,285,714 shares of its common stock, or approximately 23.4% of its outstanding common stock, at not less than $9.00 nor more than $10.50 per share, and pay related fees and expenses. Excess funds not used in connection with the tender offer may be used for general corporate purposes, including stock repurchases and acquisitions, subject to certain limitations.
The Pomerantz Firm Charges UTStarcom, Inc. with Securities Fraud -- UTSI
NEW YORK, Dec. 3, 2004 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) has filed a class action lawsuit against UTStarcom, Inc. ("UTStarcom" or the "Company") (Nasdaq:UTSI) and eight of the Company's senior executive officers and/or directors, on behalf of all persons or entities who purchased the securities of UTStarcom during the period from April 16, 2003 to September 20, 2004, inclusive (the "Class Period"). The case, Civil Action Number 04 4991 in the United States District Court, Northern District of California, has been assigned to Judge Charles R. Bryer.
The Pomerantz Firm Files Securities Class Action Suit Against Autobytel Inc. -- ABTLE
NEW YORK, Dec. 3, 2004 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) has filed a class action lawsuit against Autobytel Inc. ("Autobytel" or the "Company") (Nasdaq:ABTLE) and two of the Company's senior officers, on behalf of all persons or entities who purchased the securities of Autobytel during the period between July 24, 2003 and October 21, 2004, inclusive (the "class period"). The case was filed in the United States District Court Central District of California, Southern Division.
Unicorp to be Featured in Investor's Business Daily
HOUSTON, Dec. 3, 2004 (PRIMEZONE) -- Unicorp, Inc. (Pink Sheets:UCPI) announced today that it will be featured in the Investor's Business Daily newspaper on December 8 and also on December 10. Investor's Business Daily is also adding Unicorp on its Website for two weeks. Investor's Business Daily is a national publication that has 850,000 daily readers and 100,000 visitors to its Website daily.
Paragon Real Estate Equity and Investment Trust
Paragon Receives Stock Exchange Letter Concerning Listing Requirements
CLEVELAND, Dec. 3, 2004 (PRIMEZONE) -- Paragon Real Estate Equity and Investment Trust (AMEX:PRG) received a letter on December 1, 2004 from the American Stock Exchange notifying the company that it is not in compliance with continued listing requirements of the exchange. Specifically, the letter from the exchange noted that the company was not in compliance with Section 1003(a)(i) of the exchange's Company Guide due to shareholders' equity of less than $2.0 million and losses from continuing operations and net losses in its three most recent years, as well as with Section 1003(a)(ii) due to shareholders' equity of less than $4.0 million and losses from continuing operations and net losses in its four most recent years. Paragon's shareholders' equity was approximately $956,000 at September 30, 2004.