latest news releases from the newsroom
Federman & Sherwood
Notice to Investors: Federman & Sherwood, Who Filed the First Securities Class Action Against Quest Energy Partners, L.P., Quest Resource Corporation and Quest Energy GP, LLC, Reminds Investors of Imminent Deadline in Securities Class Action Lawsuit -- QELP, QRCP
OKLAHOMA CITY, Oct. 3, 2008 (GLOBE NEWSWIRE) -- On September 5, 2008, Federman & Sherwood filed the first securities class action lawsuit in the United States District Court for the Western District of Oklahoma against Quest Energy Partners, L.P. (Nasdaq:QELP), Quest Resource Corporation (Nasdaq:QRCP) and Quest Energy GP, LLC. Federman & Sherwood reminds current and former shareholders of these entities that they only have until Tuesday, November 4, 2008 to move for appointment as a lead plaintiff in this case. The Complaint alleges violations of Section 10(b) and Section 20(a) of the Securities Exchange Act, and Rule 10b-5 promulgated thereunder.
Levi & Korsinsky, LLP
Levi & Korsinsky, LLP Investigates Breach of Fiduciary Duty by the Board of Cherokee International Corp.
NEW YORK, Oct. 3, 2008 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Cherokee International Corp. ("Cherokee" or the "Company") (Nasdaq:CHRK) arising out of their attempt to sell the Company to Lineage Power Holdings, Inc. Under the terms of the agreement, Cherokee shareholders would receive $3.20 in cash per share for a total sale price of approximately $105 million. The sales process the Company conducted to sell the Company was flawed given that, in contravention of their fiduciary duties to maximize shareholder value, the Company's Board agreed to a "no-shop" provision and a $2.5 million termination fee which will ensure no superior offer will ever be forthcoming. The proposed acquisition is subject to customary conditions and regulatory approvals.
San Luis Trust Bank
San Luis Trust Bank Announces YTD Earnings of $1.76 Million
SAN LUIS OBISPO, Calif., Oct. 3, 2008 (GLOBE NEWSWIRE) -- San Luis Trust Bank (OTCBB:SNLS) announced that earnings during the 3rd quarter were $230,000 increasing the year-to-date net income to $1.76 million. CEO Brad Lyon commented that, "although year-to-date earnings are down compared to last year, given the current financial environment, we are very pleased with our performance. San Luis Obispo should be fairly insulated from the national financial crisis being felt by the investment companies and large financial institutions." Mr. Lyon went on to say that, "San Luis Trust Bank is well capitalized and has sufficient reserves to weather the current downward trend in the real estate market."
OPNET Technologies, Inc.
OPNET Technologies, Inc. Schedules Second Quarter Results Teleconference/Webcast for Thursday, October 30, 2008
BETHESDA, Md., Oct. 3, 2008 (GLOBE NEWSWIRE) -- OPNET Technologies, Inc. (Nasdaq:OPNT) will hold an investor conference call on Thursday, October 30, 2008 at 5:00 pm Eastern Time to review financial results for the second quarter of fiscal 2009.
Northrim BanCorp, Inc.
Northrim BanCorp, Inc. Announces Quarterly Cash Dividend of $0.17 Per Share
ANCHORAGE, Alaska, Oct. 3, 2008 (GLOBE NEWSWIRE) -- The board of directors of Northrim BanCorp, Inc. (Nasdaq:NRIM) today declared a quarterly cash dividend of $0.17 per common share, payable October 31, 2008, to shareholders of record at the close of business on October 20, 2008. At this quarterly dividend rate, the annual dividend is $0.68 per share, providing a current yield in excess of 4% at recent market prices.
RedChip Companies Inc.
RedChip Visibility Issues Second Quarter 2008 Research Update On CellCyte Genetics
ORLANDO, Fla., Oct. 3, 2008 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. today announced that it has issued a second quarter 2008 research update for CellCyte Genetics Corp. (OTCBB:CCYG), a biotechnology company engaged in developing stem cell enabling therapeutic products and medical devices for cell production.
AMCORE Financial, Inc. Announces Third Quarter Earnings Release Date
ROCKFORD, Ill., Oct. 3, 2008 (GLOBE NEWSWIRE) -- AMCORE Financial, Inc. (Nasdaq:AMFI) today announced that it will release its third quarter results on Thursday, October 16, 2008, before the market opens. William R. McManaman, chairman and chief executive officer, Don Wilson, president and chief operating officer, and Judith Carre Sutfin, executive vice president and chief financial officer, will facilitate a one-hour earnings release call.
Delta Air Lines, Inc.
Delta Air Lines Reports Record September Load Factors
ATLANTA, Oct. 3, 2008 (GLOBE NEWSWIRE) -- Delta Air Lines (NYSE:DAL) today reported record load factors for September 2008. Load factors for system (80.0 percent), domestic (81.5 percent) and Latin America (73.7 percent) were higher than any previous September on record for Delta.