latest news releases from the newsroom
Frontline Ltd. Interim Report, January - March 2002; First Quarter Results
OSLO, Norway, May 21, 2002 (PRIMEZONE) -- Frontline (NYSE:FRO) reports net income of $14.9 million for the first quarter of 2002, compared with net income of $192.3 million for the first quarter of 2001. This result reflects the continued weakness in the tanker market with average daily time charter equivalents ("TCEs") earned by VLCCs, Suezmax tankers, and Suezmax OBO carriers being $20,600, $16,500 and $18,000, respectively, compared with $19,900, $20,600 and $20,300, respectively in the immediately preceeding quarter. The TCE of $20,600 reported for VLCCs includes vessels trading on the spot market and on time charters. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter, including earnings from associated companies were $56.8 million (2001 quarter: $192.4 million).
Abbey Spanier Rodd & Abrams, LLP
Abbey Gardy, LLP Commences Class Action Suit Against Reliant Resources Inc. and Certain of Its Officers and Directors -- RRI
NEW YORK, May 20, 2002 (PRIMEZONE) -- The law firm of Abbey Gardy, LLP has filed a class action suit against Reliant Resources Inc. ("Reliant Resources" or the "Company") (NYSE:RRI) in the United States District Court for the Southern District of Texas, Houston Division, on behalf of all persons or entities who purchased Reliant Resources common stock pursuant to or traceable to the Registration Statement declared effective May 1, 2001 or in the open market during the period from May 1, 2001 through April 14, 2002, (Section 11 Class Period) and on behalf of all persons who purchased Reliant Resources common stock during the period May 1, 2001 through May 10, 2002 (Section 10(b) Class Period).
Pomerantz Haudek Block Grossman & Gross LLP: Merrill Lynch and Henry Blodget Charged With Securities Fraud by GoTo Shareholder -- OVER
NEW YORK, May 20, 2002 (PRIMEZONE) -- The law firm of Pomerantz Haudek Block Grossman & Gross (www.pomerantzlaw.com) announced today that it filed a class action lawsuit on behalf of investors who purchased the common stock of GoTo.com, Inc. ("GoTo" or the "Company" and now known as Overture Services, Inc.) (Nasdaq:OVER) during the period from January 11, 2001 through June 6, 2001, inclusive (the "Class Period"). The case was filed in the United States District Court for the Southern District of New York and charges Merrill Lynch & Co., Inc. ("Merrill Lynch") and its former Internet research analyst Henry M. Blodget ("Blodget") with issuing misleading analyst reports about GoTo in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Wilson Greatbatch Technologies, Inc.
Wilson Greatbatch Technologies Elects Board of Directors
CLARENCE, N.Y., May 20, 2002 (PRIMEZONE) -- Wilson Greatbatch Technologies, Inc. ("WGT" or "Company") (NYSE:GB) today announced the re-election of its current Board of Directors at its 2002 Annual Shareholders meeting. They include: Bill R. Sanford, Chairman of SYMARK LLC; Peter H. Soderberg, CEO of Welch Allyn, Inc.; William Summers, Jr., Chairman of McDonald Investments, Inc.; Robert E. Rich, Jr., CEO of Rich Products Corporation; Henry Wendt, Former Chairman of Smith Kline Beecham and Global Healthcare Partners; and Edward F. Voboril, Chairman, President and CEO of Wilson Greatbatch Technologies, Inc.