latest news releases from the newsroom
Mobile Satellite Ventures
TerreStar Networks Closes $200 Million Equity Financing
RESTON, Va., May 11, 2005 (PRIMEZONE) -- Mobile Satellite Ventures (MSV) announced today the closing of a $200 million private placement in its former subsidiary TerreStar Networks Inc. (TerreStar). TerreStar, in partnership with TMI Communications, is one of two FCC licensees in the 2 GHz frequency band planning to develop, build and operate advanced mobile satellite services. Simultaneously with the financing, TerreStar was spun off to MSV's shareholders as a stand-alone company. Following the closing, wireless communications provider Motient Corp. becomes the majority shareholder of TerreStar with an ownership position of nearly 61% of outstanding shares. This financing, together with MSV's $230 million November financing that also resulted in the retirement of all MSV debt, establishes both MSV and TerreStar as independent developers of a new generation of communications services combining satellite ubiquity with terrestrial efficiency. TerreStar holds a license to deploy its network using MSV's unparalleled hybrid network (ATC) patent portfolio.
Scott + Scott, LLC Shareholder Client Files Securities Class Action against Friedman, Billings, Ramsay Group, Inc. and Individual Defendants -- FBR
COLCHESTER, Conn., May 11, 2005 (PRIMEZONE) -- Scott + Scott, LLC announced that it filed a shareholder class action lawsuit by request and on behalf of purchasers of Friedman, Billings, Ramsay Group, Inc. (NYSE:FBR) securities from January 29, 2003 and April 25, 2005. You can reach attorney Neil Rothstein at email@example.com, 800/332-2259 or 619/233-4565 (or by cell if necessary at 619/251-0887). You can also contact attorney Amy K. Saba at firstname.lastname@example.org . Scott + Scott has offices in Connecticut, Ohio and California. The firm (http://www.scott-scott.com) specializes in complex litigation including securities fraud and represents foundations, individuals, corporations and pension funds worldwide. Shareholders or other interested individuals may contact the firm.