latest news releases from the newsroom
The Rosen Law Firm PA
Correction: Class Action Filed on Behalf of Escala Group, Inc. Investors -- ESCL
NEW YORK, May 10, 2006 (PRIMEZONE) -- In the investor notice issued yesterday May 9, 2006, by The Rosen Law Firm PA announcing that a class action has been filed on behalf of purchasers of Escala Group, Inc. ("Escala" or the "Company") (Nasdaq:ESCL) common stock, the notice described the incorrect class period date for the lawsuit. The class action is on behalf of all purchasers of Escala common stock during the period from September 5, 2003 through and including May 8, 2006.
U.S. Starcom, Inc.
U.S. Starcom, Inc. Signs Formal Distribution Contract With Universal Music Group
PERTH AMBOY, N.J., May 10, 2006 (PRIMEZONE) -- U.S. Starcom, Inc. (Pink Sheets:USTA) announced today that it has signed a definitive distribution contract with Universal Music Group for the distribution of prepaid phone cards packaged with Latin, Brazilian and Indian music CD's from the customer's stable of artists. Universal Music Group is the world's leading distributor of recorded music with an estimated worldwide market share of 26% of the entire music industry.
Metso to Supply Main Equipment for Nippon Paper's New Papermaking Line in Japan
HELSINKI, Finland, May 10, 2006 (PRIMEZONE) -- Metso Paper will supply most of the technology for Nippon Paper Industries' new 350,000 tpy papermaking line to be built at its Ishinomaki mill in northeastern Honshu, Japan. The total value of the Metso order, which covers technology for papermaking, paper finishing, air systems and automation, exceeds EUR 80 million. The new production line is due to start up in late September 2007.
INFINITE Software Corporation
California Software Named in Orange County Top Public Companies List
LAGUNA NIGUEL, Calif., May 9, 2006 (PRIMEZONE) -- California Software Corporation (Pink Sheets:CSWX), a leader in legacy extension, business intelligence and loan production software for banks, credit unions and consumer lending institutions and developer of the award-winning INFINITE product lines, announced it has been named to the Orange County Business Journal's Top Public Companies List for 2006.
Scott+Scott, LLC Files Class Action Lawsuit Against GlobeTel Communications Corp. on Behalf of Investors
COLCHESTER, Conn., May 9, 2006 (PRIMEZONE) -- On May 9, 2006, Scott+Scott, LLC filed a class action lawsuit in the U.S. District Court for the Southern District of Florida against GlobeTel Communications Corp. ("GlobeTel" or the "Company") (AMEX:GTE) and certain officers on behalf of GlobeTel securities purchasers during the period December 22, 2005 through April 11, 2006, inclusive (the "Class Period"), for securities law violations. GlobeTel provides an integrated suite of telecommunications services. The complaint alleges that during the Class Period defendants made false and misleading statements regarding the Company's $600 million deal with Moscow-based LLC Internafta to provide internet services in Russia. As a result, the Company's stock price was artificially inflated, thereby harming Class Period investors.