latest news releases from the newsroom
The Project Group, Inc.
The Project Group Announces 2004 Strategic Initiatives
HOUSTON, Jan. 26, 2004 (PRIMEZONE) -- The Project Group, Inc. (OTCBB:PJTG), a leading integrator of Microsoft(r) Project and provider of business initiative services to Fortune 1000 companies, today announced its Strategic Initiatives for 2004. The announcement was made by Craig Crawford, President of The Project Group.
iBX Group, Inc.
iBX Transcription Services Projects Revenue Increase of 30 Percent During 2004
DEERFIELD BEACH, Fla., Jan. 26, 2004 (PRIMEZONE) -- iBX Transcription Services, Inc., a division of iBX Group, Inc. (OTCBB:IBXG) that provides advanced medical dictation, transcription and workflow management solutions for the healthcare industry, confirmed today that it is expecting a 30 percent increase in annual revenue during 2004. The division's revenue projections were revised after the addition of several new clients during the past month, company officials said.
NEON Communications Group, Inc.
Globix Corporation Commences Offer to Purchase $40 million of its Senior Notes
NEW YORK, Jan. 26, 2004 (PRIMEZONE) -- Globix Corporation (OTCBB:GBXX), a leading provider of managed Internet applications and infrastructure services, today announced it has commenced a tender offer for up to $40,274,000 in principal amount of its 11% Senior Notes due 2008 ("Notes"). Under the terms of the offer, Globix will purchase outstanding Notes for cash at par plus accrued interest. This offer will be funded with a portion of the net proceeds from the sale of its property located at 415 Greenwich Street in New York, New York which closed on January 22, 2004.
Kirby McInerney LLP
Kirby McInerney & Squire LLP Announces Delaware Chancery Court Decision Allowing Shareholder Derivative Suit Concerning eBay `Spinning' To Proceed -- EBAY
NEW YORK, Jan. 26, 2004 (PRIMEZONE) -- The law firm of Kirby McInerney & Squire, LLP announced that the Delaware Chancery Court issued an opinion on January 23, 2004, denying a motion to dismiss and ruling that a shareholder derivative suit against certain directors and officers of eBay, Inc. (Nasdaq:EBAY) and Goldman Sachs Group Inc. (NYSE:GS) may proceed. The suit alleges that eBay's investment banker, Goldman Sachs engaged in the practice of "spinning" by allocating shares of Initial Public Offerings of stock to eBay insiders in exchange for continued and future investment banking business from eBay. Plaintiffs allege that corporate insiders usurped millions of dollars worth of such shares, which rightfully belonged to eBay and its shareholders.
GB&T Bancshares, Inc.
GB&T Bancshares, Inc. Reports 2003 EPS of $1.28 and Declares Quarterly Cash Dividend of $0.09
GAINESVILLE, Ga. , Jan. 26, 2004 (PRIMEZONE) -- GB&T Bancshares, Inc. (Nasdaq:GBTB), a fast-growing multi-bank holding company comprised of five Georgia community banks, reported 2003 net income of $7.7 million, or $1.28 per diluted share, compared to $6.5 million, or $1.32 per diluted share, reported in 2002. Excluding a one-time loss on the sale of an acquired bank's headquarters building of $196,000 after-tax in the second quarter of 2003 and a one-time gain of $410,000 after-tax from the sale of a minority interest in a de novo bank in the fourth quarter of 2002, operating income for 2003 was $7.9 million, or $1.31 per diluted share, compared to 2002 operating income of $6.1 million, or $1.23 per diluted share. Operating income and diluted operating earnings per share for 2003 rose 29.9 percent and 6.5 percent, respectively, over the 2002 adjusted figures. For the fourth quarter of 2003, net income was $2.8 million compared with $2.0 million for the prior-year quarter. Diluted earnings per share were $0.40 for the fourth quarter of 2003 compared to $0.39 for the prior-year quarter. Excluding the one-time gain on sale described earlier, fourth quarter 2002 operating income and diluted operating earnings per share were $1.6 million and $0.31, respectively.
Delaware Chancery Court Gives Green Light To Derivative Action Brought By The Pomerantz Firm Involving `Spinning'
NEW YORK, Jan. 26, 2004 (PRIMEZONE) -- The Delaware Court of Chancery ruled on Friday, January 23, 2004, that a derivative action on behalf of eBay, Inc. (Nasdaq:EBAY), can go forward. The suit, which named as defendants several eBay inside directors and Goldman Sachs Group, alleged that eBay's investment banking advisor, Goldman, engaged in a practice known as "spinning," whereby it allocated shares of lucrative initial public offerings of stock to the defendant directors in exchange for additional investment banking business from eBay. The case seeks to recover for eBay the profits from those transactions.