latest news releases from the newsroom
Brodsky & Smith, LLC
Law Offices of Brodsky & Smith, LLC Announces Class Action Lawsuit Against Bayer, AG -- BAY
BALA CYNWYD, Pa., March 12, 2003 (PRIMEZONE) -- Law offices of Brodsky & Smith, LLC today announces that a securities class action lawsuit has been filed on behalf of shareholders who purchased the publicly traded securities of Bayer (AG) Aktiengesellschaft (NYSE:BAY), and certain present and former members of its Board of Management, on behalf of purchasers of Bayer AG American Depositary Shares (ADRs) from June 27, 1997 through February 21, 2003, inclusive, (the "Class Period"). (Prior to January 23, 2002, Bayer AG ADRs traded on the Nasdaq under the symbol BAYZY). A copy of the complaint is available from the U.S. District Court for the Southern District of New York (Docket No. 03 CV. 1724 (SWK)).
Ocwen Financial Corp.
Ocwen Financial Corporation Announces Termination of Walton Street Capital Litigation, Settlement Amount to be Recorded in Fourth Quarter 2002
WEST PALM BEACH, Fla., March 12, 2003 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today announced that a lawsuit brought against two wholly-owned subsidiaries, Ocwen Asset Investment Corporation and Ocwen Partnership, L.P., by Walton Street Capital, L.L.C. ("Walton") has been terminated following the parties' settlement agreement. Walton filed suit in Circuit Court of Cook County, Illinois, alleging defendants committed an anticipatory breach of contract with respect to a proposed sale of certain commercial mortgage-backed securities to Walton. Walton sought damages in the amount of approximately $27 million, including prejudgment interest. A jury trial was scheduled to commence on March 4, 2003.
Marsh Supermarkets Inc.
Marsh Supermarkets Announces Improvement Plans
INDIANAPOLIS, March 12, 2003 (PRIMEZONE) -- In recent conference calls, Marsh Supermarkets (Nasdaq:MARSA) (Nasdaq:MARSB) outlined a number of initiatives designed to improve future operating results. "The deflationary environment for food, changes in customer preferences and the competitive climate necessitated several new initiatives," said Don E. Marsh, Chairman and Chief Executive Officer.
BITC launches Corporate Responsibility Index
SOUTH OCKENDON, ESSEX, UK, March 12, 2003 (PRIMEZONE) -- Cantos was at the launch of the first business-led, voluntary index which publicly benchmarks companies' business practices across a range of areas.