latest news releases from the newsroom
Shepherd Smith Edwards & Kantas
The Law Firm of Shepherd Smith Edwards & Kantas Continues to Investigate and File Claims Involving 'Preferred' Stocks
HOUSTON, March 26, 2009 (GLOBE NEWSWIRE) -- The Securities Law Firm of Shepherd Smith Edwards & Kantas LLP, (www.sseklaw.com), is currently investigating, and has filed, claims on behalf of investors who have sustained economic losses as a result of overconcentration in "preferred" stocks issued by financial companies. Many financial based companies (mortgage companies, banks and brokerage firms) began issuing shares of preferred stock earlier this year in an effort to raise much needed cash. Many brokerage firms, including UBS (Symbol:UBS), Morgan Stanley (Symbol:MS) and Citigroup (Symbol:C) were either involved in the underwriting or marketing of these products. Its possible that extra "sales credits" were utilized to incentivize brokers into marketing of these products. Based on contact with dozens of investors, it appears there was a rash of sales to investors of preferred stocks issued by financial companies. This has resulted in many investor complaints involving Brokerage firms overconcentrating clients in securities issued by financial based companies. Examples include overconcentration in issues of Fannie Mae (Symbol:FM), Freddie Mac (Symbol:FRE), Washington Mutual (Symbol:WM), Lehman Brothers (Symbol:LEH), Wachovia (Symbol:WB), Bear Stearns (Symbol:BST), and Merrill Lynch (Symbol:MER).
BankFinancial Corporation Announces Annual Meeting of Shareholders
BURR RIDGE, Ill., March 26, 2009 (GLOBE NEWSWIRE) -- BankFinancial Corporation (Nasdaq:BFIN) announced today that its 2009 Annual Meeting of Shareholders will be held on June 30, 2009 at 11:00 AM, Chicago, Illinois time. The location of the meeting will be the Holiday Inn Chicago-Willowbrook-Hinsdale, 7800 South Kingery Highway (Route 83), Willowbrook, IL 60527.
Shepherd Smith Edwards & Kantas
Shepherd Smith Edwards & Kantas LLP Investigates Claims for Clients of Deutsche Bank Alex Brown Who Were Invested in the Aravali Fund
HOUSTON, March 26, 2009 (GLOBE NEWSWIRE) -- As the law firm of Shepherd Smith Edwards & Kantas LLP (www.sseklaw.com) investigates claims for clients of Deutsche Bank Alex Brown who were invested in the Aravali Fund, tales of the stock market crash of 1929 and images of victims jumping from windows of Wall Street buildings come to mind. An eerie sign of the similarities to the current 21st Century crash may be the recent suicide of a despondent broker at Deutsche Bank Alex Brown Securities (NYSE:DB), who left a note telling his clients to contact a lawyer to seek recovery of losses. The note stated in part:
Delisting of Securities of Nanogen, Inc. From The NASDAQ Stock Market
NEW YORK, March 26, 2009 (GLOBE NEWSWIRE) -- The NASDAQ Stock Market announced today that it will delist the common stock of Nanogen, Inc. Nanogen, Inc.'s stock was suspended on March 23, 2009, and has not traded on NASDAQ since that time. NASDAQ will file a Form 25 with the Securities and Exchange Commission to complete the delisting. The delisting becomes effective ten days after the Form 25 is filed. For news and additional information about the company, including the basis for the delisting and whether the company's securities are trading on another venue, please review the company's public filings or contact the company directly.
HCC Insurance Holdings
HCC Insurance Holdings, Inc. Renews Shelf Registration Statement
HOUSTON, March 26, 2009 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that it had recently filed a universal shelf registration statement with the Securities and Exchange Commission as a routine renewal of its existing shelf registration statement that was to expire on May 25, 2009. The shelf registration statement automatically became effective as of its filing and, consistent with the prior registration statement, may be utilized to offer up to $1 billion of common stock, debt securities, warrants and trust preferred securities to provide the Company with flexibility to respond to future financing opportunities.