latest news releases from the newsroom
Salon City, Inc.
Salon City, Inc. Will 'Own The City' in Philadelphia and Seattle
West Hollywood, Calif., Nov. 22, 2006 (PRIMEZONE) -- From the Liberty Bell to the Space Needle: Salon City is spreading the word to the beauty community. On Sunday, December 3, Pennsylvania's beautymakers will converge on West Chester for an "I Own The City" Salon City Press Party, part of the on-going 50-city tour of parties Salon City, Inc. is staging across the country. Salon City and Von Dutch Watches will sponsor the event along with local salon host Donald Moore and Calista Grand Salon & Spa.
Keller Rohrback L.L.P.
Keller Rohrback L.L.P. Announces 401K Excessive and Improper Fee Investigation Against The Hartford Financial Services Group Inc.
SEATTLE, Nov. 22, 2006 (PRIMEZONE) -- Keller Rohrback L.L.P. today announced that it is currently investigating The Hartford Financial Services Group Inc. ("Hartford" or the "Company") regarding its service to 401(k) plans as a Service/Investment Providers ("Providers"). In particular our investigation focuses on whether Hartford, in its capacity as a Provider, breached its fiduciary duties under ERISA by, among other things, causing 401(k) plans to incur excessive management and administration fees and/or entering into improper fee sharing arrangements with mutual fund companies that are selected by Hartford. These abuses, though sometimes difficult to detect based on the information given to plan participants, can cost plans millions of dollars and substantially reduce the retirement savings of plan participants.
Law Offices of Howard G. Smith
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Ikanos Communications, Inc. -- IKAN
BENSALEM, Pa., Nov. 22, 2006 (PRIMEZONE) -- Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of shareholders who purchased the common stock of Ikanos Communications, Inc. ("Ikanos" or the "Company") (Nasdaq:IKAN) pursuant and/or traceable to the Company's Registration Statement and Prospectus for its initial public offering on September 22, 2005 (the "IPO"), or its secondary public offering on March 8, 2006 (the "Secondary Offering"). The class action lawsuit was filed in the United States District Court for the Southern District of New York.
Discovery Laboratories, Inc.
Discovery Labs Completes $10.0 Million Private Financing
WARRINGTON, Pa., Nov. 22, 2006 (PRIMEZONE) -- Discovery Laboratories, Inc. (Nasdaq:DSCO) announced today that it has completed the sale of securities in a private placement to one selected institutional investor for gross proceeds of $10.0 million. Under the terms of the financing, Discovery sold approximately 4.6 million newly-issued shares of its common stock at a price of $2.16 per share and issued a warrant with a five-year term exercisable for approximately 2.3 million shares of common stock at an exercise price of $3.18 per share. The purchase price per share for the shares of common stock represents a 5% discount to the average of the volume weighted average price of the common stock for the five trading days preceding the execution of the definitive purchase agreement (5-day VWAP) and the exercise price of the warrant represents a 40% premium over the 5-day VWAP.